(C) Reuters. FILE PHOTO: A delivery staff member wearing a protective mask enters a KFC fast food outlet after a delivery in Colombo
(Reuters) – KFC owner Yum Brands Inc beat quarterly comparable sales estimates on Wednesday, boosted by the U.S. economy reopening and sustained demand from consumers ordering online.
The roll-out of vaccines and the easing of dining room capacity restrictions in the United States have led to more people eating out after a year of ordering in, boosting sales at Yum’s restaurant chains as well as those of its rivals.
Comparable sales rose 9% at the company, which also owns Taco Bell and Pizza Hut, in the first quarter ended March 31, beating estimates of an 8.6% increase, according to data from Refinitiv IBES.
Net income rose to $326 million, or $1.07 per share, from $83 million, or 27 cents per share, a year earlier.
KFC parent Yum Brands beats comparable sales estimates on easing pandemic curbs
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.