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Stock impact report

Major pizza chain to close hundreds of locations [Yahoo! Finance]

Yum! Brands, Inc. (YUM) 
Last yum! brands, inc. earnings: 4/29 07:00 am Check Earnings Report
US:NYSE Investor Relations: yum.com/investors
Company Research Source: Yahoo! Finance
Pizza Hut is closing hundreds of locations across the United States as its parent company continues a strategic review of the embattled brand. Yum! Brands, which also owns Taco Bell and KFC , revealed in Wednesday's earnings call that 250 “underperforming” Pizza Hut locations will close in the first half of this year. While a specific list of closures was not released, this accounts for roughly 3% of the brand's U.S. footprint. This move follows an announcement in November that the company had launched a “formal review of strategic options” for the brand, including a potential sale. “The Pizza Hut team has been working hard to address business and category challenges; however, Pizza Hut's performance indicates the need to take additional action to help the brand realize its full value, which may be better executed outside of Yum! Brands,” said CEO Chris Turner in a statement at the time. He added that the company is pursuing a thorough review to “truly take advantage of the b Show less Read more
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