Yum Brands China same-store sales rose in December «
Yum Brands Inc.’s China same-store sales rose an estimated 2% during December, increasing for a second straight month, but declined an estimated 4% for its fourth quarter.
The restaurant company has been trying to recover from food-safety concerns related to KFC chicken suppliers more than a year ago. Yum in November began an advertising and social-media campaign to assure people that its food is safe.
The company, which also operates Pizza Hut and Taco Bell, late last year promised major new initiatives to improve its KFC brand in China during 2014.
The company on Monday reported that same-store sales rose 5% at its KFC China operations in December, but decreased 3% at Pizza Hut, according to its filing with the U.S. Securities and Exchange Commission.
For the fourth-quarter, the same-store sales decline included a decrease of 4% at KFC and growth of 5% for Pizza Hut. The fourth quarter for the China Division includes September, October, November and December.
The company plans to release it fourth-quarter and full year financial results Feb. 3.
Shares fell 3.3% to $71.01 in recent after-hours trading. Through Monday’s close, the stock has fallen 2.9% this year.