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Yum Brands sales fall for fourth straight quarter
July 14, 2015 / 8:23 PM / 2 years ago

Yum Brands sales fall for fourth straight quarter

July 14 (Reuters) - Yum Brands Inc, the owner of the Pizza Hut and Taco Bell restaurant chains, reported its fourth straight quarter of falling sales, as it struggles to recover from a food scandal in China, a market where the company makes most of its profit.

The company’s net income fell to $235 million, or 53 cents per share, in the second quarter ended June 13, from $334 million, or 73 cents per share, a year earlier.

Revenue fell to $3.11 billion from $3.20 billion.

Same-store sales in China fell 10 percent, steeper than the 8.4 percent decline analysts had expected, according to research firm Consensus Metrix. (Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Maju Samuel)

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