Yum! Brands sales rise in India in Q2

The Indian system sales growth of KFC is up 9% and Pizza Hut at 8%.

Yum! Brands, Inc. reported results for the second quarter ended June 30, 2017, with the second-quarter GAAP EPS amounting to $0.58, down by 10%.

Greg Creed, CEO of Yum! Brands, said, “I’m pleased that Yum! Brands’ intensified focus on our four distinct growth drivers helped deliver another successful quarter. Core operating profit grew 19% and EPS excluding special items grew 21% during the second quarter. We are maintaining our full-year 2017 guidance and are on pace with our multi-year transformation strategy designed to further unlock shareholder value.”

The second-quarter highlights include the opening of 174 net new units for 3% net new unit growth. The company refranchised 244 restaurants, including 40 KFC stores, 163 Pizza Hut stores and 41 Taco Bell units for proceeds of $136 million, with refranchising gains of $19 million in Special Items.

In addition, Yum! Brands entered into a Transformation Agreement with Pizza Hut U.S. franchisees to improve brand marketing alignment, accelerate enhancements to operations and technology and permanently increase advertising, digital and technology contributions from franchisees.

As of quarter end, the company’s global franchise ownership mix was 94%.

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