Yum forecasts China growth
The parent of Taco Bell, Pizza Hut and KFC said it expects healthy same-store growth to return in the second half of next year in China, after a sluggish first half. Yum Brands (YUM) surprised investors last week when it forecast 4% Q4 same-store sales decline, its first drop in 3 years. At its investors conference Thu., CEO David Novak pointed to macro sluggishness and difficult year-ago comparisons. Its almost 5,000 restaurants in China accounted for more than half of Q3 revenue. Shares rose 1.6% to 66.92.
