Aug 1 (Reuters) - Yum Brands Inc on Thursday reported better-than-expected sales at established restaurants, powered by growth across all its chains - KFC, Pizza Hut and Taco Bell.
The company’s sales from restaurants open at least a year rose 5% in the second quarter ended June 30, beating Wall Street’s estimate of 3% growth, according to IBES data from Refinitiv.
Yum’s total revenue fell 4% to $1.31 billion, hurt by the company’s move to refranchise its restaurants which replaces sales with royalty fees. Analysts were expecting total revenue of $1.28 billion. (Reporting by Nivedita Balu in Bengaluru; Editing by Bernard Orr)