Executives at Yum Brands, the operator of KFC, Taco Bell and Pizza Hut, yesterday defended the company’s recent stumbles in China and promised a return to faster sales growth next year, writes Alan Rappeport .
“I’m very confident we’re going to have solid same-store sales growth,” David Novak, Yum’s chief executive, said at the company’s annual investor conference in New York. “I believe in our China business model as much today, if not more, than I ever have.”
Shares of Yum fell more than 10 per cent last week when the company warned that its fourth-quarter same-store sales in China would decline 4 per cent year-on-year, marking the first quarterly fall since 2009.
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