|Tricon Global Restaurants, Inc. Reports December Sales|
|LOUISVILLE, Ky., Jan 8, 2002 (BUSINESS WIRE) -- Tricon Global Restaurants, Inc.
(NYSE: YUM) today reported estimated U.S. blended same-store sales at company
restaurants increased 7% during the four-week period ended December 29, 2001
(Period 13). For the comparable four-week period, U.S. same-store sales
increased 12% at Taco Bell, 8% at KFC, and 3% at Pizza Hut.
For the fourth quarter, U.S. blended same-store sales at company restaurants increased 3%. Same-store sales increased 8% at Taco Bell and 7% at KFC, and decreased 5% at Pizza Hut.
Additionally, for the fourth quarter, International system sales increased 8% prior to foreign currency conversion or +3% after conversion to U.S. dollars. Year to date, International system sales increased 9% prior to foreign currency conversion or 2% after conversion to U.S. dollars.
Note: All the aforementioned results exclude the impact from the 53rd week in 2000.
Same-store sales results for Period 1, 2002 (primarily January for the U.S. businesses), will be released Thursday, January 31, 2002. The company will issue fourth-quarter and full-year 2001 earnings February 11 after the market closing.
Tricon is the largest global restaurant company in terms of system units, with over 30,000 restaurants around the world in over 100 countries and territories. Tricon's three brands, KFC, Pizza Hut and Taco Bell, are the global leaders of the chicken, pizza and Mexican restaurant categories, respectively. Total system sales worldwide were over $22 billion in the year 2000.
(Note: Same-store sales include only company restaurants that have been open one year or more. International system sales include sales from company, franchise, license, and joint-venture restaurants.)
This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include those identified by such words as may, will, expect, anticipate, believe, plan and other similar terminology. These "forward-looking" statements reflect management's current expectations regarding future events and operating and financial performance and are based on currently available data. However, actual results are subject to future events and uncertainties, which could cause actual results to differ from those projected in this announcement. Factors that can cause actual results to differ materially include: changes in global and local business, economic and political conditions in the countries and territories where Tricon operates; changes in currency exchange and interest rates; changes in commodity, labor and other operating costs; changes in competition in the food industry, consumer preferences, spending patterns and demographic trends; the effectiveness of our operating initiatives and advertising and promotional efforts; new-product and concept development by Tricon and other food-industry competitors; the success of our refranchising strategy; the ongoing business viability of our franchise and license operators; our ability to secure alternative distribution to our restaurants at competitive rates and to ensure adequate supplies of restaurant products and equipment in our stores; our actuarially determined casualty loss estimates; changes in legislation and governmental regulation; and changes in accounting policies and practices. Further information about factors that could affect Tricon's financial and other results are included in the company's Forms 10-Q and 10-K, filed with the Securities and Exchange Commission.
CONTACT: Tricon Global Restaurants Inc., Louisville Tim Jerzyk, VP Investor Relations, 502/874-2543
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