Yum Brands Inc posted a surprise drop in fourth-quarter comparable sales on Thursday, as an increase in online orders failed to cushion the impact from restrictions on restaurant capacity in certain markets.
Renewed restrictions in several major markets, including certain parts of Europe, meant same-store sales at Yum’s KFC restaurants outside of the United States dropped 4% in the quarter, taking the sheen off their domestic growth.
Overall same-store sales at its KFC unit dropped 2%, compared with a Refinitiv IBES estimate of a 0.06% dip.
Comparable sales fell 1% for the KFC owner in the quarter ended Dec. 31, versus a Refinitiv IBES estimate of a 0.25% increase.
Overall revenue rose to $1.74 billion, compared with $1.69 billion last year and higher than analysts’ estimate of $1.72 billion.
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