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KFC Parent Yum Reports Surprise Drop in Global Same-Store Sales on Weak Demand

KFC Parent Yum Reports Surprise Drop in Global Same-Store Sales on Weak Demand
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United statesDavid gibbsShailesh kuberJuveria tabassumPizza hutTaco bellYum brands

KFC parent Yum reports surprise drop in global same-store sales on weak demand

(Reuters) -Yum Brands reported a fall in quarterly global same-store sales on Wednesday, hurt by choppy demand for its KFC and Pizza Hut brands from inflation-weary consumers in the United States as well as in overseas markets. Consumers in the United States are increasingly looking for value-oriented meals in the face of sticky inflation, pushing fast food chains to double down on promotions and offers and on revamping their store and order experiences. Shares of Yum Brands slipped 6% in premarket trade after the Pizza Hut parent joined coffee giant Starbucks in recording its first drop in total same-store sales in about three years.

United statesShailesh kuberDavid gibbsJuveria tabassumTaco bellPizza hutYum brandsPizza hutReported quarter

Starbucks Shares Tumble as China, US Demand Slowdown Clouds Outlook

Starbucks Shares Tumble as China, US Demand Slowdown Clouds Outlook
usnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from usnews.com Daily Mail and Mail on Sunday newspapers.

United statesJuveria tabassumDanilo gargiuloLaxman narasimhanShilpi majumdarLos angelesLucy nicholsonMiddle eastRestaurant brands

KFC parent Yum Brands reports surprise drop in global same-store sales on weak demand

Yum Brands reported a fall in quarterly global same-store sales on Wednesday, hurt by choppy demand for its KFC and Pizza Hut brands from inflation-weary consumers in the United States as well as in.

United statesShailesh kuberJuveria tabassumDavid gibbsTaco bellYum brandsPizza hut

Starbucks shares tumble as China, US demand slowdown clouds outlook

Several quarters of price hikes have forced customers to ditch cafes and restaurants and instead drink coffee at home, hurting business for chains such as Starbucks. "The inability to stop the traffic leakage from the early signs of pull-back in November to date and the worsening macro and competitive dynamics in China may suggest prolonged challenges and no evidence of light at the end of the tunnel," Danilo Gargiulo, senior analyst at Bernstein, wrote in a note. The company expects its full-year comparable sales — both globally and in the U.S. — to be in the range of a low single-digit decline to flat, compared with its previous range of 4% to 6% growth.

United statesJuveria tabassumDanilo gargiuloShilpi majumdarLaxman narasimhanMiddle eastRestaurant brandsComparable sales

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