Yum! Brands: Reports First-Quarter 2021 Results

Louisville / KY. (yb) Yum! Brands Inc. reported results for the first-quarter ended March 31, 2021. Worldwide system sales excluding foreign currency translation grew 11 percent, with 9 percent same-store sales and 1 percent unit growth. First-quarter GAAP EPS was USD 1.07. First-quarter EPS excluding Special Items was also USD 1.07, an increase of 67 percent over the prior year quarter.

Commentary

David Gibbs, CEO, said «First-quarter results reflect encouraging momentum across our business, including solid 2-year same-store sales growth and a meaningful uplift in unit development, underpinned by the focus and collaboration of our franchise partners and restaurant teams around the world. During the quarter we took important steps to further boost our digital and marketing capabilities through the acquisitions of two technology-focused companies that will enhance our ability to grow our sales overnight and our brands over time. Our foundation is strong and our path forward is clear. While uncertainties remain due to the ongoing impact of Covid-19 in many geographies, with our iconic brands, world-class talent and a healthy franchise system we are poised to enter a post-Covid world with a long runway of growth ahead of us.»

For additional information please read the company’s PDF file below (168 KB):

20210428-YUM-BRANDS-Q1-2021
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