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

Retail in Asia

In Sectors

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.