Industry News | August 15, 2002
Sales for Yum! Brands, Inc. Rise 2Percent in the Third Quarter
Yum! Brands, Inc. today reported estimated U.S. blended same-store sales at company restaurants increased two percent during the four-week period ended August 10, 2002 (Period 8). Estimated International system sales increased nine percent prior to foreign currency conversion or 11 percent after conversion to U.S. dollars.
Driven by international and Taco Bell sales results, which are at the high end of the company's forecasted range for the quarter, Yum! Brands has increased its third-quarter ongoing operating EPS guidance from a range of $0.45 to $0.47 to the high end of the range or $0.47.
On August 12, 2002, Yum! Brands' Chairman and CEO David Novak and CFO Dave Deno formally certified as complete and accurate all Yum! Brands' financial statements and other SEC filings issued in 2002 beginning with the filing of the 2001 Form 10-K and all subsequent filings of Form 10-Q, Form 8-K and definitive proxy materials.
Sales results for Period 9 (the four-week period ending September 7, 2002 for the U.S. businesses) will be released September 12, 2002, before the market opens. (Note: U.S. same-store sales include only company restaurants that have been open one year or more. U.S. blended same-store sales include KFC, Pizza Hut, and Taco Bell company-owned restaurants only. U.S. same-store sales for Long John Silver's and A&W are not included. International system sales include sales from company, franchise, license, and joint-venture restaurants.)
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