Yum! Brands, Inc. (NYSE:YUM) stock dropped 2% yesterday after Credit Suisse initiated coverage on the quick service restaurant company with a Sell-equivalent rating. With a target price of $74 per share, demonstrating a downside potential of almost 5%, the investment firm has commenced coverage on the stock advocating an Underperform call.
Yum! Brands, Inc. (YUM) reported first quarter results for its fiscal 2014 (1QFY14) yesterday, just after the markets closed. The fast food company, which operates the KFC, Pizza Hut, and Taco Bell chains, recorded better-than-expected profits on the back of a strong performance in China, but announced that sales in the US continued to remain challenged.
Colonel Sanders may evoke visions of deep fried chicken in a bucket, but KFC is hoping his brand clout will help woo a younger, burrito-loving crowd to an entirely new restaurant concept from KFC Canada.
The purveyor of the fat-engorged Double Down sandwich will debut its new banner, KFC Select, next month in Toronto, aimed at consumers drawn to fresher fast food fare from Subway and so-called “fast casual” chains like Mucho Burrito and Chipotle Mexican Grill.
Yum! Brands, Inc. (YUM) released earnings for the third quarter of its fiscal year 2014 (3QFY14), ended September 6, after the market closed yesterday. The parent company of KFC, Pizza Hut and Taco Bell reported quarterly revenue of $3.35 billion, down 3% from the same quarter last year, and less than consensus estimates of $3.38 billion. Adjusted earnings per share (EPS) came in at 89 cents, up 2% from 85 cents reported in the comparable quarter last year.
World Market Pulse submits:Like it or hate it, but you cannot ignore China in almost all sectors of international business and trade. For its sheer size of its vast population, China continues to be the prime mover of a lot of segments. Even as China offers a good incentive for investors and organizations to tap the Asian markets, there are a lot of headwinds associated with China, which have been on the rise in the recent past. Testimony to the fact is the growth of Yum Brands Inc.
[AP] - Yum Brands Inc., the owner of the Pizza Hut, Taco Bell and KFC fast-food brands, said Tuesday that its third-quarter profit grew 7 percent on the strength of surging overseas sales, mainly in China.
[AP] - Yum Brands Inc., owner of the Pizza Hut, Taco Bell and KFC chains, said Tuesday third-quarter profit that beat Wall Street estimates as strong sales and restaurant growth in international markets offset another sluggish showing in its U.S. business.