What Yum! Brands CEO says about Papa John’s

Them fightin’ text.  Yum! Brands (YUM) CEO David Gibbs suggests he just isn’t perspiring in the course of the stuffed pizza wars underway amongst his chain Pizza Hut and intense foe Papa John’s (PZZA). “I guess imitation is the sincerest kind of flattery,” stated Gibbs on Yahoo Finance Reside, referring […]

Them fightin’ text. 

Yum! Brands (YUM) CEO David Gibbs suggests he just isn’t perspiring in the course of the stuffed pizza wars underway amongst his chain Pizza Hut and intense foe Papa John’s (PZZA).

“I guess imitation is the sincerest kind of flattery,” stated Gibbs on Yahoo Finance Reside, referring to the struggle for stuffed crust fans’ stomachs. “There is constantly individuals striving to imitate what we are carrying out, but I feel persons convey to the variation involving the primary and the imitation.”

Melt away.

Papa John’s debuted its “epic” stuffed crust pizza in December 2020, tough Pizza Hut — the lengthy-time leader in the house. Considering the fact that then, Papa John’s has ridden a wave of acceptance — and bigger product sales — for a solution it has greatly marketed. For the six months finished June 27, Papa John’s North American similar-retail store profits have attained 14.8{36b5afd37b5f644411c48360e0a8bf3fabdcedb4864112dd90a67dbc6d3d0762}. 

But Pizza Hut’s overall performance has been no slouch this 12 months, both suggesting diners proceed to like its OG stuffed crust pizza (and what ever else is on the menu). Exact same-retail store profits at Pizza Hut North America have clocked in at a 7{36b5afd37b5f644411c48360e0a8bf3fabdcedb4864112dd90a67dbc6d3d0762} increase.

And luckily for us for Yum! Models, it has KFC and Taco Bell in the portfolio to counteract any dropped stuffed crust pizza product sales at Pizza Hut. 

The cafe giant stated Thursday that third quarter globally similar-store income rose 6{36b5afd37b5f644411c48360e0a8bf3fabdcedb4864112dd90a67dbc6d3d0762} for KFC and 5{36b5afd37b5f644411c48360e0a8bf3fabdcedb4864112dd90a67dbc6d3d0762} at Taco Bell. 3rd-quarter earnings defeat analyst estimates by 14 cents. 

Yum! Models shares were relatively unchanged in Thursday afternoon investing.

Gibbs claimed he is ramping up growth worldwide at KFC presented strength in the business. That nugget did not go unnoticed by the Avenue.

“COVID flare-ups continue being a near-term chance (with Yum China’s opinions past evening pertaining to even now-challenging gross sales in China supporting this), but with the firm’s unit advancement re-accelerating and sustaining at a speedier tempo for for a longer time, we count on shares to keep on to grind higher around time,” said Wells Fargo restaurant analyst Jon Tower.

Brian Sozzi is an editor-at-significant and anchor at Yahoo Finance. Comply with Sozzi on Twitter @BrianSozzi and on LinkedIn.

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Sharron Hermanson

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