Taco Bell Sales Boost Yum Brands’ Profit
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Yum Brands Inc., the operator of the KFC and Pizza Hut fast-food chains, said fourth-quarter earnings rose 4.8%, helped by increased sales at the company’s Taco Bell unit.
Net income rose to $172 million, or 56 cents a share, from $164 million, or 54 cents, a year earlier, the company said. Sales rose 12% to $2.46 billion.
Sales in restaurants open at least a year rose 1%, led by Taco Bell, which benefited from lower prices and less competition in the Mexican fast-food segment, analysts said.
Shares of Louisville, Ky.-based Yum rose 37 cents to $22.43 on the NYSE.
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