Yum! Brands (YUM) Conf. Call Comments Suggest Sequential Improvement in China, RBC Capital Says
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Yum! Brands Reports First-Quarter EPS Decline of 8%, Excluding Special Items; Maintains Full-Year Guidance of at least 10% EPS Growth in 2015
April 21, 2015 4:10 PM EDTLOUISVILLE, Ky.--(BUSINESS WIRE)-- Yum! Brands, Inc. (NYSE: YUM) today reported results for the first quarter ended March 21, 2015, including EPS of $0.80, excluding Special Items. Reported EPS was $0.81.
FIRST-QUARTER HIGHLIGHTS
Worldwide system sales grew 4%. Worldwide restaurant margin decreased 1.7 percentage points to 17.5%, and worldwide operating profit decreased 8%. Total international development was 294 new restaurants; 88% of this development occurred in emerging markets. China Division system sales declined 6%, as 8% unit growth was offset by a 12% same-store sales decline. Restaurant margin decreased 4.5 percentage points to 18.9%.... More