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Yum U.S. Same-Store Sales Up 4 Percent
Yum Brands Inc. (NYSE:YUM), parent of the KFC, Pizza Hut and Taco Bell fast-food chains, on Wednesday said sales at its U.S. restaurants open at least a year rose 4 percent in the latest four-week period, beating several analysts' estimates.
The No. 2 fast-food company's shares rose 5 percent in morning trade following the announcement. Three Wall Street analysts had been expecting a rise of 2 percent to 3 percent, according to research reports.
In a statement, Yum also stood by its 2005 earnings forecast of at least $2.60 a share. Analysts on average forecast $2.63 a share, according to Reuters Estimates.
Same-store sales, a key retail measure, rose 1 percent at Pizza Hut, 4 percent at Taco Bell, and 7 percent at KFC in the four weeks ended May 14, Yum said in a statement.
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Source - AP
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