Comment by phil

View Single Comment

phil
April 22nd, 2014 at 7:54 pm
Yum +2.5% AH on improving margins, Chinese growth
05:29 PM ET · YUM
• YUM‘s worldwide system sales rose 4% Y/Y in Q1 vs. 5% in Q4. Restaurant margin rose 330 bps Y/Y to 19.2%.
• The China division continued to rebound from last year’s avian flu-related woes: Same-store sales rose 9% Y/Y (11% at KFC), and system sales 20%. The division’s restaurant margin rose 680 bps to 23.4%.
• KFC division system sales +4%, same-store +1%. Pizza Hut system sales flat same-store -2%, Taco Bell system sales flat, same-store -1%, India division +21%, with 25% unit growth offsetting a 1% same-store decline.
• $170M has been spent on buybacks YTD. Food and paper costs equaled 26.6% of revenue vs. 26.8% a year ago.
• Yum plans to open at least 700 new Chinese restaurants this year, and 1,250 in other international markets. The company still expects at least 20% 2014 EPS growth.
• Q1 results, PR
var isMC=true; var adSize=’320×50′; var ord = Math.floor(Math.random()*10e12); var seekingalpha_ad_src=’http://ad.doubleclick.net/N6001/adj/sek.mobile/app;sz=320×50,320×250;x=x;tile=1;d=mobile;t=app;mcid=true;mcid=1687043;s=YUM;’+dart_my_vocation_and_profiles()+’ord=’+ord+’;dev=ip?’; document.write(”);