Yum! Brands Closes 250 Pizza Hut Locations Amid Strategic Review

Yum! Brands has announced the closure of 250 "underperforming" Pizza Hut locations across the United States during the first half of the year.

This represents approximately 3% of Pizza Hut's US footprint.

The parent company, which also owns Taco Bell and KFC, disclosed these details during its recent earnings call. A specific list of the affected locations was not released.

Pizza Hut's Strategic Options Under Review

In November, Yum! Brands initiated a "formal review of strategic options" for Pizza Hut, including a potential sale. The company expects to complete this review within the current year.

Mixed Quarterly Sales Performance

Pizza Hut Reports Sales Decline

Pizza Hut reported a 3% decline in US same-store sales for the quarter. The brand's focus on value, including a new $5 pizza, did not significantly impact sales.

Taco Bell Shows Strong Growth

Conversely, Taco Bell recorded a 7% increase in same-store sales for the quarter, attributed to its consistent introduction of new menu items.

KFC Continues Turnaround Efforts

KFC also showed a 1% rise in US same-store sales, continuing its turnaround efforts by focusing on menu innovation.

Shares of Yum! (YUM) have increased by 6% year-to-date.