Earnings

Yum Brands (YUM) earnings Q4 2022

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A pedestrian walks past the American chain of fast-food restaurants Taco Bell in Spain.

Xavi Lopez | Lightrocket | Getty Images

Yum Brands on Wednesday reported quarterly earnings and revenue that topped analysts’ expectations, fueled by strong same-store sales growth at Taco Bell.

Overall, the restaurant giant saw solid U.S. demand as high-income consumers traded down to fast food and low-income diners bought its chains’ value meals. However, weak sales in China once again weighed on KFC’s and Pizza Hut’s results, after the Chinese government relaxed its zero Covid policy and a wave of new outbreaks hit the country. The resurgence hurt recovery efforts for Yum and other restaurant…



Source cnbc.com

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