UPDATE 1-Pizza Hut India operator posts biggest profit drop yet on slow demand, piling costs [Yahoo! Finance]
Yum! Brands, Inc. (YUM)
Last yum! brands, inc. earnings: 4/29 07:00 am
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Source: Yahoo! Finance
biggest profit fall since listing and missed estimates on Friday, as inflation-weary customers continued to cut back on dining out and ordering in. The Yum Brands franchisee's consolidated net profit fell 98% to 23.9 million Indian rupees ($286,271.4) for the quarter ended March 31, marking its fourth straight quarterly profit fall. Analysts, on average, had expected a profit of 44.5 million rupees, according to LSEG data. Shares of the company, which went public in November 2021, fell as much as 3.3% after the results. India's quick-service restaurants struggled throughout the fiscal year to lure in customers, who cut back spending due to sticky inflation. The country's food inflation, which accounts for nearly half of the overall consumer price basket, has remained high so far this year. Sapphire Foods's restaurants launched new items at lower prices, as well as valued-added meals such as Pizza Hut's launch of a cheesy pizza-sandwich meal called Melts priced at 259 rupees
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News
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- PIZZA HUT ANNOUNCES KALEN THORNTON AS GLOBAL CHIEF BRAND OFFICER [Yahoo! Finance]Yahoo! Finance
- PIZZA HUT ANNOUNCES KALEN THORNTON AS GLOBAL CHIEF BRAND OFFICERPR Newswire
YUM
Earnings
- 5/1/24 - Miss
YUM
Sec Filings
- 5/21/24 - Form 8-K
- 5/20/24 - Form 4
- 5/17/24 - Form 144
- YUM's page on the SEC website