Yum Brands warns on earnings after China shortfall
Jan 7 (Reuters) - Fast food chain operator Yum Brands Inc on Monday warned that sales in its key China division shrank more than expected in the fourth quarter, leading it to forecast earnings that were below what Wall Street expected.
KFC parent Yum said China sales fell 6 percent in the quarter, versus its earlier 4 percent forecasted decline. The company expects 2012 earnings per share, excluding special items, of $3.24. Analysts polled by Thomson Reuters I/B/E/S on average expected earnings of $3.26 per share