Yum Brands Misses Q2 Expectations, CEO to Retire | JQJO

Yum Brands' Q2 earnings and revenue missed analyst expectations, primarily due to declining US same-store sales at Pizza Hut and KFC. While overall net sales climbed 10% to $1.93 billion, and same-store sales rose 2%, KFC's US sales dropped 5%, and Pizza Hut's US sales also fell 5%. Taco Bell, however, showed positive growth. The company reported adjusted EPS of $1.44 versus the expected $1.46, and total restaurant count increased by 3%. CEO David Gibbs will retire in October, to be replaced by CFO Chris Turner.