Yum Brands (YUM
) reaffirmed its FY2013 guidance and FY2014 outlook and gave some positive news regarding its China Division ahead of its annual investor meeting.
The company announced that its China same-store sales were up 1% for November versus the estimated 1.2% decrease; the increase in sales was partially due to a special promotion at KFC restaurants.
Along with this reported boost in China sales, Yum reaffirmed its guidance for 2013, which will see EPS decline in the high single digits or low double digits. Looking forward to 2014, the company expects to see earnings growth of 20%. The company went on to give confirm more details about its outlook for 2014, including an expected 40% increase in profits for its China division, the opening of 1,850 new units throughout the world, and $1.2 billion in global capital expenditures.
Top Blue Chip Companies To Watch For 2015
YUM stock was up a fraction at Monday’s market close, and was heading lower in after-hours trading. YTD, the company’s stock is up 15.66%.
No comments:
Post a Comment