The fast-food marketer reported a 29% net income gain for the quarter ended June 15. It posted $140 million in net income, or 45 cents per diluted share, for the quarter, up from $116 million, or 38 cents per diluted share, for the same period in 2001.
Leading Yum Brand's original trio of restaurant concepts was Taco Bell, which reported company-owned same store sales rose 9% for the four weeks ended July 13. KFC sales grew 3% while Pizza Hut continued
Taco Bell, KFC & Pizza Hut
Following similar results in the two prior periods, Taco Bell company-owned stores paced quarterly same-store sales growth with 8%, while KFC per store sales grew 4% and Pizza Hut was flat.
During the quarter, Taco Bell launched its Border Bowls product, KFC launched its "laptop" children meals and Pizza Hut launched -- and then pulled -- brand advertising created by Wieden & Kennedy, Portland, Ore., for its Insider Pizza.
Pizza Hut replaced the Wieden spots with product-focused ads from its lead agency, Omnicom Group's BBDO Worldwide, New York, and later said Wieden's project was "done."
Also during the quarter, the Louisville, Ky.-headquartered company completed its acquisition of Long John Silver's and A&W Restaurants.
International revenue grew 18%, mostly through expansion, as 180 new worldwide units opened during the quarter.