China sales fall at Yum Brands

Yum Brands (YUM.NYSE, TGR.FRA), owner of the KFC and Pizza Hut fast-food chains, reported that same-store sales fell 20% year-on-year in the first quarter, although that figure beat the larger drop expected by analysts, Bloomberg reported. Analysts had expected sales to drop by 25%, according to data from Consensus Metrix. In January, KFC sales fell 41% while Pizza Hut sales fell 15% year-on-year. Sales began to improve in February, however, with KFC’s sales largely unchanged and Pizza Hut’s rising 13% compared to the same month a year ago. The sales data indicates KFC may be rebounding after a tainted chicken scandal revealed last year.