Second-quarter estimated U.S. blended same-store sales at company restaurants increased 3 percent. For the second quarter, estimated International system sales increased 10 percent prior to foreign currency conversion or 7 percent after conversion to U.S. dollars. The U.S. and International growth rates were consistent with the company forecast for the second quarter provided in April.
Year to date, estimated international system sales increased 9 percent prior to foreign currency conversion or 6 percent after conversion to U.S. dollars.
Detailed U.S. brand portfolio performance was as follows: period 6 same-store sales increased 8 percent at Taco Bell, 7 percent at KFC and decreased 1 percent at Pizza Hut. Second-quarter same-store sales increased 8 percent at Taco Bell, 3 percent at KFC and decreased 3 percent at Pizza Hut.
Period 6 international system-sales growth was adversely affected by approximately one percentage point due to timing of the Easter holiday. This year the holiday occurred in Period 5 versus Period 6 last year, providing benefit to sales results for Period 5 of 2002.
* (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 will not be included. International system sales include sales from company, franchise, license, and joint-venture restaurants.)
Yum! Brands' next scheduled investor communication is the second-quarter earnings release, Tuesday, July 23, 2002, after the Market's close. Same-store sales results for Period 7 (the latter half of June and the first half of July for the U.S. businesses) will be included in this earnings release. Period 7 represents the first four-week period of the third quarter.
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