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Yum! Brands, Inc. Message Board

  • adspatz adspatz Oct 10, 2013 11:09 AM Flag

    Yum third quarter profits drop 68%

    Search for "SEC Live Filings Digest" to find out more.
    Filing in Focus: Yum! 8-K, October 8, 2013
    Yum! Brands, Inc. (YUM) announced its financial results for the third quarter of fiscal year 2013, reporting profits that fell 68%. Yum, which owns and operates the KFC and Pizza Hut brands, faced tougher competition in its largest market in China. Some of KFC’s largest competitors in China include Dicos and Hua Lai Shi, which negatively impacted company performance. Additionally, consumers have still shown a resistance to poultry after a bird flu outbreak earlier in the year. Sales at stores open at least one year in China fell 11% while sales in the United States remained unchanged. Earnings decreased from $471M and $1.00 earnings per share a year ago to $152M and $0.33 per share this quarter. Yum spokesman Jonathan Blum commented that it is taking longer than the company expected for consumers to trust KFC again following the problems earlier in the year.

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