With as many problems as have been seen in China for Yum! Brands Inc. (NYSE: YUM), you might think that any good news there might be worth being highlighted more than in an SEC filing. Yum signaled in an SEC filing after the close on Thursday that its China division’s October same-store sales grew by roughly 5%.
This was said to be comparable to the China division’s same-store sales growth of 6% in September. The company noted that October’s results include estimated growth of 10% at its KFC and an estimated decline of 9% at Pizza Hut Casual Dining.
At this point, China’s problems were around the KFC unit in the recent past. This was one issue that helped to prompt the move towards a split of Yum for a domestic company and one in China.
Yum shares closed down 1.9% at $67.12 on Thursday. The after-hours session last had Yum shares up close to 4% at $69.80. That is against a 52-week range of $66.35 to $95.90 and a consensus analyst price target of $82.47.
Yum’s SEC filing from Thursday said:
We are reiterating our guidance for the fourth quarter of China Division same-store sales growth of 0% to 4%, with positive same-store sales growth at KFC and negative same-store sales at Pizza Hut Casual Dining. As previously stated, same-store sales remain difficult to forecast in China, and our overlaps become more difficult for the balance of year.
As a reminder, our fourth quarter for the China Division includes the months of September, October, November and December. We will release November same-store sales for the China Division in conjunction with our Annual Investor Conference.
ALSO READ: 10 Brands That Will Disappear in 2016
Is Your Money Earning the Best Possible Rate? (Sponsor)
Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.
However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.
There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.