Worldwide sales grew 11% and same-store sales spiked 9% for
The main driver, according to an earnings announcement, was digital capabilities and the fact more consumers are heading out to eat as COVID-19 pandemic concerns are ebbing.
Kentucky Fried Chicken and
The earnings results saw company shares rise less than 1% in premarket trading after the earnings call early this morning, according to a CNBC report.
The company saw record digital sales of over
"First-quarter results reflect encouraging momentum across our business, including solid 2-year same-store sales growth and a meaningful uplift in unit development, underpinned by the focus and collaboration of our franchise partners and restaurant teams around the world," said CEO
Earnings highlights included:
- Operating margin increased 8.4 percentage points driven by same-store sales growth, lower bad debt expense, and unit growth.
- KFC Division opened 409 restaurants in 50 countries.
KFC International's same-store sales declined 2% on a 2-year basis, which includes the impact of about 2% of stores being temporarily closed as of the end of the first-quarter 2021.-
KFC
U.S. , same-store sales grew 11% on a two-year basis, which includes the impact of less than 1% of stores temporarily closed as of the end of the first-quarter 2021.
Pizza Hut Division
- Opened 172 restaurants in 33 countries.
- Operating margin increased 8 percentage points driven by same-store sales growth, lower bad debt expense, and lower general and administrative expenses, partially offset by the impact of prior year permanent unit closures.
-
Pizza Hut
U.S. off-premise channel generated 23% same-store sales growth. - Pizza Hut Division's same-store sales declined 1% on a 2-year basis, which includes the impact of about 3% of stores being temporarily closed as of the end of the first-quarter 2021.
-
For
Pizza Hut International , same-store sales declined 7% on a 2-year basis, which includes the impact of about 3% of stores being temporarily closed as of the end of the first-quarter 2021. -
Pizza Hut
U.S. same-store sales grew 8% on a two-year basis, which includes the impact of about 3% of stores being temporarily closed as of the end of the first-quarter 2021.
Taco Bell Division
- Opened 73 restaurants in nine countries.
- Operating margin increased 4.7 percentage points due to same-store sales growth and lower general and administrative expenses.
- Same-store sales grew 10% on a two-year basis, which includes the impact of less than 1% of stores being temporarily closed as of the end of the first-quarter 2021.
Habit Burger Grill Division
- Opened six restaurants in the
U.S andCambodia . - Same-store sales grew 13%.
- For the division, same-store sales grew 3% on a two-year basis, which includes the impact of about 2% stores that were temporarily closed as of the end of the first-quarter 2021.
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