Yum Earnings: Taco Bell Should Regain Its Footing as Cyclospora Concerns Fade; Shares Fairly Valued
In the second quarter, Yum Brands reported 7% global constant-currency system sales growth, buoyed by 6% unit and 4% comparable sales growth, excluding Pizza Hut. Taco Bell chalked up 7% comps, but quarter-to-date trends have drifted to a negative 2% rate amid the recent cyclospora outbreak.