Yum! Brands, Inc. has reported results for the third quarter ended September 30, 2017.
Its system sales growth in emerging markets have increased 7%, and its same-store sales growth have cited even results.
Pizza Hut Division opened 192 new international restaurants in 47 countries, including 144 units in emerging markets. The operating margin increased 7.2% points driven by refranchising partially offset by higher franchise and license expense due to incremental advertising spend associated with the Transformation Agreement.
CEO Greg Creed said, “I’m pleased to report another strong quarter with 11% core operating profit growth and 22% EPS growth excluding special items, as a result of the continued focus on our four key growth drivers. We are maintaining our full-year 2017 guidance and remain on-track with our multi-year transformation strategy. As we celebrate both our 1st anniversary from the spinoff of Yum China and our 20th anniversary as an independent company, I am proud of our accomplishments. I’m especially proud of our ability to leverage our culture to rapidly transform to a more focused, more franchised and more efficient company which delivers more growth to our shareholders.”
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