Welcome to our dedicated page for Yum! Brands news (Ticker: YUM), a resource for investors and traders seeking the latest updates and insights on Yum! Brands stock.
Yum! Brands, Inc. (NYSE: YUM) is the world's largest restaurant company, boasting a portfolio that includes renowned brands such as KFC, Pizza Hut, Taco Bell, and The Habit Burger Grill. With over 39,000 restaurants in more than 130 countries and territories, Yum! Brands serves millions of customers globally and employs over 1 million associates.
Founded as a division of PepsiCo and formerly known as Tricon, Yum! Brands generates significant revenue primarily through franchise royalties and marketing contributions. This business model has proved successful, with the company achieving $64 billion in systemwide sales in 2023. Yum! Brands is 98% franchised, with Yum China, its largest franchisee, spun out in 2016. Despite this separation, Yum China continues to pay 3% royalties to Yum! Brands.
Yum! Brands is an industry leader in the fast-food sector, with KFC specializing in chicken, Pizza Hut in pizza, Taco Bell in Mexican-style food, and The Habit Burger Grill in burgers. The company is second in global sales, trailing only McDonald's but surpassing Restaurant Brands International and Starbucks. As of year-end 2023, KFC operated 29,900 units, Pizza Hut 19,866 units, Taco Bell 8,564 units, and The Habit Burger Grill 381 units.
Known for its unique corporate culture, Yum! Brands emphasizes fun, recognition, and career development. The company invests heavily in its workforce to maximize their career potential, creating a diverse and inclusive environment where employees can thrive both personally and professionally.
Yum! Brands is also at the forefront of technological innovation in the fast-food industry. Led by Joe Park, the Chief Digital and Technology Officer, the company is leveraging artificial intelligence to transform its operations across all brands. By 2024, about 45% of Yum!'s sales were digital, highlighting a significant shift from traditional sales channels.
On the product front, Yum! Brands continuously innovates to meet consumer demands. For example, Pizza Hut recently introduced the Cheeseburger Melt, a unique fusion of pizza and burger elements, while KFC launched new Saucy Nuggets flavors for a limited time. Taco Bell, through its Live Más Scholarship program, is also investing in the future success of young people by awarding $10 million in scholarships in 2024.
Yum! Brands is not just about food; it's about community engagement and social responsibility. The company is involved in numerous initiatives, such as KFC’s Add Hope program in South Africa, which supports children's education and well-being.
Overall, Yum! Brands, Inc. stands out for its extensive global reach, innovative approach to technology and food, and commitment to a positive workplace culture and community impact.
Emily True, a senior manager at Pizza Hut, is leading the brand's sustainability initiatives, blending her expertise in environmental science with business acumen. Her journey started along the Massachusetts coast, leading her to study environmental science at the University of Massachusetts Boston and earn a master's in environmental management from Duke University. At Pizza Hut, she has spearheaded the 'Recipe for Good' strategy, partnering with Dairy Farmers of America to reduce greenhouse gas emissions from cheese production by 10%. Emily's personal and professional commitment to sustainability includes eco-friendly practices like composting, reducing food waste, and promoting public transportation. She emphasizes the importance of integrating sustainability into the core business strategies to drive innovation, enhance brand reputation, and ensure long-term profitability.
KFC has announced its new Building Green initiative, requiring both new and existing franchisees to adopt measures aimed at reducing carbon emissions by 46%. Developed by KFC's development and sustainability teams, the initiative includes 11 mandatory practices such as optimizing exhaust hoods and food warming equipment. The global fast-food giant, with nearly 30,000 franchises worldwide and an opening rate of one new location every 3.5 hours, aims to cut its Scope 3 emissions, which are primarily from its restaurants and chicken farming. Future considerations for franchisees include the installation of EV charging stations.
Pizza Hut has announced the appointment of Kalen Thornton as Global Chief Brand Officer, effective June 10, 2024. Thornton will lead global brand strategy and marketing across 110 markets. Previously, Thornton held senior marketing roles at PepsiCo and Nike. Additionally, Melissa Friebe will become Chief Marketing Officer for Pizza Hut U.S., transitioning from Taco Bell, where she served as Chief Brand Strategy Officer. Friebe succeeds Lindsay Morgan. Pizza Hut CEO Aaron Powell expressed confidence in the new appointees' ability to drive brand growth and resonance.
Yum! Brands has declared a quarterly dividend of $0.67 per share, to be distributed on June 7, 2024, for shareholders of record as of May 28, 2024. The company also announced a new share repurchase authorization of up to $2.0 billion, effective from July 1, 2024, through December 31, 2026. Yum! Brands operates over 59,000 restaurants worldwide, including KFC, Taco Bell, Pizza Hut, and The Habit Burger Grill. The company's recent accolades include being named to the Dow Jones Sustainability Index North America and receiving recognition from TIME Magazine and Newsweek for corporate responsibility and leadership. The previous share repurchase authorization, approved in September 2022, will expire on June 30, 2024.
The Taco Bell Foundation announced its largest investment yet in the Live Más Scholarship program, awarding a total of $10 million to over 1,000 students. Of this, $7 million will go to Taco Bell fans and $3 million to Taco Bell team members. Scholarships range from $5,000 to $25,000 per recipient. Unique to this program, students are selected based on a two-minute video showcasing their passions rather than traditional academic criteria. Notably, this year's top winners also receive Taco Bell gift cards. The initiative is funded by customer donations and Taco Bell franchisees. The program promotes diversity, supporting students from various educational paths, and includes a new Alumni Leadership Council.
The KFC Foundation is awarding $250,000 in grants to 25 community-based non-profit projects focused on education and training. This initiative, part of the Kentucky Fried Wishes program, will distribute $1 million in total grants to 100 non-profits nationwide in 2024.
This quarter's recipients span 20 states and support various causes, such as Boolean Girl's STEM program for girls in Arlington, VA, and the Gateway Regional Arts Center's Pottery for Change program in Mt. Sterling, KY. These grants will provide critical resources like laptops and art therapy classes, benefiting hundreds of individuals.
The next grant cycle will focus on health and well-being, with applications open from May 1-31.
Starting today, Pizza Hut launches the Cheeseburger Melt, entering the burger market with a unique product that combines a parmesan-crusted thin crust with beef, applewood-smoked bacon, onions, mozzarella, and cheddar. This innovative menu item aims to offer a portable, crunchy, and cheesy alternative to traditional burgers. To promote the launch, Pizza Hut introduces a campaign encouraging customers to 'cheat on their cheeseburger' by offering free Cheeseburger Melts and PEPSI® at select burger chain drive-thrus in Chicago and Miami. This promotion is valid while supplies last until May 20, 2024. The Cheeseburger Melt is available as part of the My Hut Box™ offer, starting at $6.99, which includes a choice between Melts or a 2-topping Personal Pan Pizza®, sides, and a drink.
KFC Jamaica is sponsoring the National Child Month Committee's 2024 initiatives with $700K. The theme for this year is 'Stand Up! Speak Out! Protect the Rights of Our Children'. The sponsorship highlights KFC's commitment to supporting children's rights and welfare.
Asian American Native Hawaiian and Pacific Islander (AANHPI) Heritage Month is celebrated in May, honoring the diverse cultures and contributions of AANHPI individuals. Taco Bell's Director of Human Resources, Tippy D., shares her personal journey as a first-generation Chinese and Thai American, emphasizing the importance of education, hard work, and helping others. Tippy's career in HR has led her to Taco Bell, where she continues to make a difference in the community.
An Atlanta high school senior has won a $25K Taco Bell Foundation scholarship for her passion in helping others with mental health issues. The scholarship was awarded by Yum! Brands. The student's achievement was highlighted by FOX 5 Atlanta.
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