Yum! Brands Inc. experienced a disappointing first quarter in 2024 as sales for
KFC and
Pizza Hut fell short causing the company's stock to slide. Despite broader challenges,
Yum reported a surge in digital sales and authorized a $2.0 billion in share buybacks. The company is optimistic about their future, bolstered by advancements in technology. This includes an increased focus on AI, with the position of
Chief Digital and Technology Officer being newly created and filled by
Joe Park. Yum also plans for100% digital transactions and continues to invest heavily in tech, including proprietary solutions and generative AI.
KFC has reached a new milestone with 30,000 global restaurants. However, external factors such as conflict in the Middle East have affected the company's overall sales growth. In terms of leadership change, chief strategy officer
Gavin Felder has left and been named CFO at
Smoothie King. Another notable move is the plans for
Yum! Brands to acquire 218 restaurants from EG Group in the UK, Ireland.
Yum! Brands YUM News Analytics from Wed, 16 Aug 2023 07:00:00 GMT to Thu, 16 May 2024 20:15:14 GMT -
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