Yum Brands beats same-store sales estimates on pizza, taco cravings

(Reuters) – Yum Brands Inc on Thursday beat Wall Street expectations for quarterly same-restaurant sales, as diners sought comfort foods such as pizzas and tacos while under coronavirus lockdowns.

Same-store sales for the second quarter ended June 30 fell 15%. Analysts had forecast a 16.02% fall, according to IBES data from Refinitiv.

Yum, which operates KFC, Taco Bell and Pizza Hut, said net income fell to $206 million, or 67 cents per share, from $289 million, or 92 cents per share, a year earlier.

(Reporting by Nivedita Balu in Bengaluru; Editing by Devika Syamnath)