Yum! Brands Posts Decline in March China Comps
Yum! Brands is continuing to be affected by health scares in Asia's largest nation. In an SEC filing, the company said its March same-store sales in its China division fell by roughly 13% in March. The decline was more pronounced at the company's KFC chicken restaurants, which saw a drop of approximately 16%. The figure for Pizza Hut was 4%.
Yum! Brands attributed the declines to the latest outbreak of bird flu in the country. In the filing, the company said: "[P]ublicity associated with avian flu in China has had a significant, negative impact on KFC sales. Historically in these situations, we have educated consumers that properly cooked chicken is perfectly safe to eat, and we will continue to do so."
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