Courtesy of John Nyaradi.
Yum Brands gets pummeled on China Warning
Yum Brands (NYSE:YUM) parent company of KFC, Taco Bell, Pizza Hut, and WingStreet plunged more than 6% on Wednesday after warning that the company’s sales in China would take a long time to recover.
The China (NYSEARCA:FXI) outlook is bad news for YUM! (NYSE:YUM) as 50% of the company’s profits come from China.
The problems have been caused by the recent bird flu outbreak in Asia along with a slowing economy in China that is dampening consumer spending.
Yum (NYSE:YUM) sales were down more than 10% for Q3 in its 6,000 restaurants in China.
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