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Food scare bites 20pc off Yum’s sales – Retail in Asia

Retail in Asia

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Food scare bites 20pc off Yum’s sales

Yum Brands Inc. has said its sales in China slid 20 percent in January and February following a food scare over its chicken suppliers. But the drop wasn’t as bad as feared.

The owner of KFC and Taco Bell had forecast a 25 percent decline for the two months for sales at restaurants open at least a year. It also warned at the time that its overall profit for 2013 would drop due to the scandal, ending an 11-year run of double-digit profit growth.