7 May, 2018
Greg Creed the global chief executive of Restaurant chain Yum! Brands in India said that the reason for double-digit system sales for its KFC and Pizza Hut brands in the January-March quarter was due to “snacking, weekend groups and delivery.”
In India the chain runs close to 700 KFC and Pizza Hut stores in addition to a minor presence of Taco Bell stores. Creed added that “India and Turkey have grown their assets base; these two markets are examples of why the company continues to believe KFC has significant runway for growth,” Creed said at a post-earnings analysts call.
While Yum is seeing pockets of strength, such as seven consecutive quarters of same-store sales growth in India and have a lot of work to do to turn sales around. KFC saw system sales grow 19 per cent in India for the quarter, while for Pizza Hut it was 21 per cent, signaling a revival of the eating out segment and mirroring the trend of consumer goods firms that are reporting double digit growth after over five years.