by Finimize Newsroom
Finimize
What’s going on here?
Yum Brands saw a notable dip in Q2 same-store sales as inflation pushed lower-income Americans to cut back on dining out – a trend hitting KFC hard but benefiting Taco Bell.
What does this mean?
Persistent inflation has made home-cooked meals more attractive, hitting Yum’s KFC division in the US with a 5% drop in same-store sales for Q2, following a 7% decline the previous quarter. Still, Taco Bell offered a bright spot, seeing a 5% rise in same-store sales, surpassing the expected 3.6% increase due to popular new items like Cantina Chicken and Taco Tuesday events. While Yum Brands narrowed its overall quarterly same-store sales decline to 1% from 3% the previous quarter, it was larger than the anticipated 0.2% drop.