Sunday, July 14, 2024

Yum Brands plans changes in China

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The Associated Press

NEW YORK — The owner of KFC, Pizza Hut and Taco Bell plans to spin off its China business into a separate, publicly traded company.

Yum Brands announced the move in an Oct. 20 press release.

The company has had trouble with its China business. Earlier in October the Louisville, Ky.-based company cut its profit outlook for the year, citing a slower-than-expected comeback for its China division. In the latest quarter, Yum Brands reported that sales in China rose just 2 percent at established locations.

Yum has been trying. . .

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