|View printer-friendly version|
|Tricon Global Restaurants, Inc. Reports April Sales|
|Louisville, Ky. — April 26, 2001 — Tricon Global Restaurants Inc. (NYSE: YUM) today reported that for the four-week period ended April 21, 2001, U.S. blended same-store sales at company restaurants were up 1%. Tricon’s International business reported year-to-date system sales growth of 8%, prior to foreign currency conversion, or +1% after conversion to U.S. dollars.
For the four-week period, same-store sales increased 4% at Pizza Hut and 2% at KFC, while Taco Bell’s declined 2%.
This period’s same-store-sales growth for all three U.S. brands was negatively impacted by at least 1% point due to the timing of Easter weekend. This year, the holiday fell in the company’s Period 4 (April), while last year, the holiday occurred in Tricon’s Period 5. Therefore, Period 5 (May) 2001 same-store sales will benefit by 1% point, as the Easter holiday impact will reverse.
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 global system sales 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 “forward-looking” statements reflect management’s expectations 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 these statements. Factors that can cause actual results to differ materially include economic and political conditions in the countries and territories where Tricon operates, the impact of such conditions on consumer spending and currency exchange rates, pricing pressures resulting from competitive discounting, new-product and concept development by Tricon and other food-industry competitors, the success of our refranchising strategy, fluctuations in commodity prices, supplier contracts, business viability of our key distributor and franchise operators, and actuarially determined casualty loss estimates. Further information on 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.