Pizza Hut also rolled out the Triple Treat Box, Beyond Meat, and Detroit-style pizza. sales were driven by the $10 Tastemaker offering, which mixed more than 20 percent in Q4. launched an omnichannel menu management system that serves as one source for menu customization and pricing that can be synced across multiple digital channels. Yum! Brands Has 7,000 Restaurants Closed GloballyĪs off-premises becomes a larger chunk of sales, the chain is also investing the requisite technology to secure growth. Taco Bell Wants to Become the Safest Place to Eat KFC to Provide $500,000 Worth of Groceries to EmployeesĪt One Point During COVID-19, Yum! Had 11,000 Closed Restaurants Taco Bell to Hire 30,000 People in Coming Months Yum! Sales Gain Momentum, Set New Heights Yum! Unveils $100 Million Plan to Combat Inequalityġ,200-Unit Pizza Hut Franchisee NPC Declares Bankruptcy KFC's Plant-Based Chicken is Headed to Southern California Taco Bell to Trim Menu Nationwide on August 13 Yum!'s Digital Business Has Gained Over $1 Billion (latest quarterly report) How Yum! Beat the COVID Odds, and Got Better Because of it Yum! Brands, and What It Takes to Hire in COVID Times Pizza Hut Takes Leap Toward ‘Healthier Global Estate’ In the quarter, business outside the four walls generated 21 percent same-store sales growth when excluding closed Express units, and 18 percent same-store sales growth with Express units. In the U.S., where off-premises is more prevalent, same-store sales increased 8 percent in Q4 and 3 percent for fiscal 2020. The data continues to back Pizza Hut’s transformation. So there's a lot of reasons to be enthusiastic about Pizza Hut with their off-premises skew and the move they made.” Now with Greg Flynn entering the system, a proven commodity in the Taco Bell world, we know that that’s going to provide a boost to Pizza Hut. “… Twenty percent of the Pizza Hut stores were in the hands of a poorly capitalized operator previously. “Pizza Hut’s the one we’ve talked about a lot because of remaking their asset base and moving to off-premises, the progress they’ve made on digital,” Gibbs said Thursday during the brand’s Q4 earnings call. The two sides have plenty of familiarity since Flynn already serves as the second-largest Taco Bell franchisee. Yum! CEO David Gibbs referred to Flynn as a well-capitalized company that brings a strong track record of operational excellence. Those stores have now been sold to new operator Flynn Restaurant Group. More closures are expected in 2021.įeeding into those 2020 shutterings was bankrupted NPC International, which decreased its footprint from 1,200 to 950. Pizza Hut ended 2020 with 17,639 stores, representing a unit decline of 6 percent-it’s the lowest global number since Q3 2018.Īlthough the numbers are significant, it’s in line with expectations as the brand continues its shift toward a more off-premises-friendly asset base, or as Yum! Brands CFO Chris Turner described it, “transition to a healthier and more modern estate.” Closures were largely underperforming stores with lower average-unit volumes. The closures were partially offset by the opening of 682 locations. In 2020, Pizza Hut shed 1,745 restaurants, or 9 percent of the year-ago figure, including 573 closures in Q1 and Q2 combined, and 1,172 total in Q3 and Q4. The chain closed 2019 with 18,703 stores globally. Pizza Hut’s mission to right-size its footprint may have begun years before the pandemic arrived, but COVID-19 undoubtedly quickened the initiative.
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