February 8, 2018 / 12:15 PM / 10 days ago

CORRECTED-Pizza Hut, Taco Bell parent Yum misses same-store sales estimates

(Corrects paragraph 3 to say total revenue fell 16.4 percent, not 17.4 percent)

Feb 8 (Reuters) - Yum Brands Inc reported fourth-quarter same-store sales that missed estimates on Thursday on weak demand at its Taco Bell and Pizza Hut chains.

Sales at its restaurants open at least a year rose 2 percent, missing the Thomson Reuters I/B/E/S estimate of 2.33 percent.

Total revenue fell 16.4 percent to $1.58 billion, lower than the analysts’ estimate of $1.59 billion, according to Thomson Reuters I/B/E/S.

Yum announced in a separate release on Thursday it would buy a 3 percent stake in online food-ordering company GrubHub Inc for $200 million to increase sales through pickup and deliveries at its KFC and Taco Bell restaurants in the U.S. (Reporting by Nivedita Balu)

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