April 29, 2020 / 11:10 AM / a month ago

KFC operator Yum's first-quarter profit falls 68.3%

April 29 (Reuters) - Yum Brands Inc reported a 68.3% fall in quarterly profit on Wednesday, as many restaurants across its four brands were closed or limited to delivery and take-away due to lockdowns to curb the rapid spread of the novel coronavirus.

Yum, which operates KFC, Taco Bell and Pizza Hut, said net income fell to $83 million, or 27 cents per share, for the first quarter ended March 31 from $262 million, or 83 cents per share, a year earlier.

Same-store sales fell 7% for the quarter. Analysts had forecast a 6.94% fall, according to IBES data from Refinitiv. (Reporting by Nivedita Balu in Bengaluru; Editing by Anil D'Silva)

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