Tricon Global Restaurants, Inc. (NYSE:YUM) today reported that U.S. blended same-store sales at company restaurants rose 1% for the four-week period ended August 5, 2000.
Salomon Smith Barney has reduced its 2001 EPS estimate for Tricon from $3.30 to $3.20, and retains its Neutral, High Risk (3H) rating on the stock.
Sales momentum at Pizza Hut remains solid with sales up 2%. KFC reversed negative sales performance with the focus on Honey Barbecue Chicken Strips, which bumped sales up 2% for the period. Although Taco Bell’s trends were an improvement, sales are down 2%.
Tricon’s International operations continue to report solid system sales growth with year-to-date sales up 8%.
The four-week period ended August 5, 2000 represents Tricon’s period 8.
