Tags: Yum | China | Sales | Turnaround

Yum's China Sales Rise amid Turnaround; Shares Jump

Monday, 11 Mar 2013 04:48 PM


KFC parent Yum Brands Inc. on Monday said February sales at established restaurants in China, its top market, rose an unexpected 2 percent as it works to recover from a steep business decline sparked by a food-safety scare there late last year.

The average of three analysts estimates was for a decline of 8.7 percent in February, according to Consensus Metrix.

Yum also said first-quarter same-restaurant sales in China dropped 20 percent. It had previously forecast a 25 percent decline for the first quarter.

Yum shares rose 7 percent in after-hours trading to $72.59, their highest level since Yum first warned of a sales shortfall in China last November.

© 2015 Thomson/Reuters. All rights reserved.

Around the Web

Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
Zip Code:
Privacy: We never share your email.

You May Also Like
Around the Web
Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

© Newsmax Media, Inc.
All Rights Reserved