Yum! Brands Expects Q1 Losses, Even Stronger Declines Through June

Restaurant company Yum! Brands (NYSE: YUM) announced today in an SEC filing that it expects moderate sales losses in the quarter ended March 31 and an even bigger plunge in the second quarter. Owner of major global brands such as Pizza Hut, Taco Bell, KFC, and The Habit Burger Grill, the company is experiencing the effects of coronavirus-related social distancing and temporary closures around the planet.

Image source: Pizza Hut.

While Pizza Hut delivery orders are shooting higher because people are ordering from home, dine-in ordering has taken a major blow from COVID-19. Yum! also pointed out that dine-in sales may be showing signs of recovery in the markets affected first, such as China, where some reports indicate evidence of a rebound in economic activity.

Source Fool.com