Overview
- Yum retained Goldman Sachs and Barclays to advise on options that could include a sale, a joint venture or a minority stake sale.
- The company set no timetable for the process and warned the review may not result in a transaction.
- Pizza Hut has posted seven consecutive quarters of declining comparable sales, including a 1% drop in Q3 and a 7% decline in the U.S.
- The chain operates nearly 20,000 restaurants in more than 100 countries, about 6,500 in the U.S., and contributes roughly 11% of Yum’s operating profit.
- Taco Bell and KFC posted same-store sales growth of 7% and 3% in the quarter, while analysts note Pizza Hut’s U.S. market share fell to 18.7% from 22.6% since 2019.