Yum Brands Gets a Lift as KFC’s Cheaper Options Draw More Customers
August 3, 2023
Yum Brands reported strong quarterly results, with KFC’s comparable sales surging 13% and beating estimates, driven by the popularity of cheaper meal options and promotions, such as the 2-for-$5 fried chicken wrap and chicken nuggets. The company’s lower-priced offerings have appealed to both younger and low-income customers, boosting sales and drawing diners away from higher-priced fast-casual restaurants. However, sales at Taco Bell and Pizza Hut fell short of expectations, highlighting the contrasting performance across Yum Brands’ portfolio.
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