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KFC China sales crash 36% in April on bird flu fears

Agence France-PresseMay 13, 2013 16:12
Sales of fast food giant KFC in China slumped an estimated 36 percent last month, according to parent Yum! Brands, as consumers shunned chicken due to the H7N9 bird flu outbreak in humans. For Yum overall, which includes other restaurant chains such as Pizza Hut, Chinese same-store sales -- a measure of turnover in established outlets -- fell an estimated 29 percent in April, according to an exchange filing on Friday.

China probes mutton supplier; government website says linked to Yum

May 7, 2013 13:03
SHANGHAI (Reuters) - Shanghai authorities are testing mislabeled mutton from a wholesaler a government website said supplies a chain of hot pot restaurants run by U.S. fast food firm Yum Brands Inc, the latest safety scare to taint China's food industry.

Yum profit beats even as bird flu batters China sales

April 23, 2013 18:15
(Reuters) - KFC parent Yum Brands Inc <YUM.N> on Tuesday reported that quarterly profit fell less than Wall Street expected, despite a sharp drop in sales in its top China market, sending the company's shares up nearly 6 percent. The Louisville, Kentucky-based fast-food company also repeated its earnings forecast for the year, based on the better-than-expected first-quarter results.

Yum China sales up in February amid turnaround, shares jump

March 11, 2013 23:15
March 11 (Reuters) - KFC parent Yum Brands Inc on Monday said February sales at established restaurants in China, its top market, rose an unexpected 2 percent as it works to recover from a steep business decline sparked by a food safety scare there late last year. The average of three analysts estimates was for a decline of 8.7 percent in February, according to Consensus Metrix. Yum also said first-quarter same-restaurant sales in China dropped 20 percent. It had previously forecast a 25 percent decline for the first quarter.

UPDATE 3-Yum China sales up in February amid turnaround, shares jump

March 11, 2013 18:00
(Adds more analyst comment) By Lisa Baertlein March 11 (Reuters) - KFC parent Yum Brands Inc reported an unexpected 2 percent rise in February sales at established restaurants in China, boosted by Chinese New Year and easing worries about a food safety scare that drove away customers. Shares in Yum jumped 6.6 percent in extended trading to $72.32, their highest level since November, after the results were far better than the estimated 8.7 percent drop expected by three analysts polled by Consensus Metrix.

KFC cuts suppliers after China chicken scare

February 26, 2013 01:15
Fast food giant KFC has cut more than 1,000 farms from its supplier network in China to ensure food safety after a scandal over tainted chicken hurt sales in the key market last year. The issue came to light when China's commercial hub of Shanghai and the northern province of Shanxi said in December that they were investigating KFC suppliers over claims of high levels of antibiotics in chicken. The food scare caused a six percent fall in the China sales of KFC's parent Yum! Brands in the fourth quarter last year, deeper than its previous estimate of a four percent decline.

UPDATE 2-Yum cutting some supplier ties after China food scare

February 25, 2013 15:15
BEIJING, Feb 25 (Reuters) - Yum Brands Inc said on Monday it will stop using more than 1,000 slaughterhouses in China as it moves to tighten food safety and reverse a sharp drop in business at KFC restaurants in its top market after a scare over contaminated chicken. Diners began avoiding Kentucky-based Yum's nearly 5,300, mostly KFC, restaurants in China in December after news reports and government investigations in the Asian country focused on chemical residue found in a small portion of its chicken supply.

UPDATE 1-Yum says China chicken suppliers dropped before probe announced

January 8, 2013 23:30
By Lisa Baertlein LOS ANGELES, Jan 8 (Reuters) - KFC parent Yum Brands Inc said it had stopped using chicken from suppliers in China that are now under a government investigation before the review was even announced and analysts said they expect the company to recover from the business hit in its biggest market.

Yum says dropped China chicken suppliers before review announced

January 8, 2013 16:45
By Lisa Baertlein LOS ANGELES, Jan 8 (Reuters) - KFC parent Yum Brands Inc said it had stopped using chicken from suppliers in China that are now under a government investigation before the review was even announced, and analysts said they expect the company to recover from the business hit in its biggest market.
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