Taco Bell sales help Yum Brands top expectations

Yum Brands on Wednesday reported quarterly earnings and revenue that topped analysts’ expectations, fueled by strong same-store sales growth at Taco Bell.

Overall, Yum saw solid U.S. demand as high-income consumers traded down to fast food and low-income diners bought value meals. However, weak sales in China once again weighed on KFC’s and Pizza Hut’s results, after the Chinese government relaxed its zero Covid policy and a wave of new outbreaks hit the country. The resurgence hurt recovery efforts for Yum and other restaurant companies.

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