Wednesday 30 July 2014

Yum Brands says China sales hit by food scandal


A man walks out of the entrance of Husi Food factory in Shanghai (Reuters) - Yum Brands Inc said reports of improper food handling by Chinese supplier Shanghai Husi has had a "significant, negative impact" on same-store sales at its KFC and Pizza Hut outlets in China over the past 10 days. Yelp's shares fell 6.5 percent in extended trading. "If the significant sales impact is sustained, it will have a material effect on full-year earnings per share," the company said in a regulatory filing. (Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Don Sebastian)








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