Yum! Brands: Q3 EPS down 11%
(CercleFinance.com) - Yum! Brands reported Q3 2022 EPS - excluding extraordinary items - of 1.
09 dollar, down 11% year-on-year, on global sales (including franchises) that are up 7% (+5% LFL).
Management said that excluding Russia, sales grew by 10%, driven by strong demand for its iconic brands, increased digital adoption and continued momentum in terms of the number of sales outlets.
The restaurant group, which operates the KFC, Pizza Hut and Taco Bell brands, decided to withdraw from the Russian market in the second quarter by selling its business to a local franchisee.
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