(Reuters) – KFC owner Yum Brands Inc beat quarterly comparable sales estimates on Wednesday, boosted by the U.S. economy reopening and sustained demand from consumers ordering online.
The roll-out of vaccines and the easing of dining room capacity restrictions in the United States have led to more people eating out after a year of ordering in, boosting sales at Yum’s restaurant chains as well as those of its rivals.
Comparable sales rose 9% at the company, which also owns Taco Bell and Pizza Hut, in the first quarter ended March 31, beating estimates of an 8.6% increase, according to data from Refinitiv IBES.
Net income rose to $326 million, or $1.07 per share, from $83 million, or 27 cents per share, a year earlier.
(Reporting by Uday Sampath in Bengaluru; Editing by Amy Caren Daniel and Sriraj Kalluvila)
