© Reuters. FILE PHOTO: People walk by a Taco Bell and Pizza Hut, subsidiaries of Yum! Brands, Inc. in Manhattan, New York City, U.S., February 7, 2022. REUTERS/Andrew Kelly
(Reuters) – Taco Bell parent Yum Brands Inc beat Wall Street estimates for quarterly comparable sales on Wednesday, benefiting from price hikes and its value-oriented offerings at Taco Bell attracting consumers amidst soaring inflation.
The company, which also owns KFC and Pizza Hut chains, said comparable sales rose 5% in the third quarter, compared to analysts’ average estimate of a 3.2% increase, according to IBES data from Refinitiv.
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