Yum Brands ( NYSE: YUM ) reported that worldwide system sales rose 5% in Q3 to top the consensus expectation for a rise of 2.1%. After backing out FX swings, global comparable sales were up 7%.
Taco Bell had the strongest growth during the quarter with a 9% increase in comparable sales. KFC saw a 8% increase in comparable sales and Pizza Hut was also in positive territory with a 4% comp.
Yum Brands ( YUM ) reported digital sales of approximately $6B, with digital mix exceeding 40% during the quarter.
Core operating profit was up 8% during the quarter. Taco Bell's operating profit growth of 11% more than offset a 3% drop for Pizza Hut. YUM disclosed that foreign currency translation unfavorably impacted divisional operating profit by $39M.
Unit growth for Yum Brands was 4% during the quarter with all the restaurant chains adding units. The restaurant operator added 979 gross units during Q3 resulting in 644 net-new units.
Shares of Yum Brands ( YUM ) inched up 0.30% in premarket trading on Wednesday to $118.50.
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Yum Brands trades slightly higher after strong Taco Bell results