Yum warns on 2013 as chicken scare hurts KFC
February 5, 2013 9:21 AM EST
KFC parent Yum Brands Inc
The company, which gets more than half of its overall sales and operating profit from China, reported a 6 percent drop in fourth-quarter sales at established restaurants in China due to "adverse publicity" regarding its poultry supply.
As a result, Yum forecast a "mid-single digit" percentage decline in earnings per share for 2013. Yum previously forecast 2013 earnings per share growth of at least 10 percent.
Yum has nearly 5,300, mostly KFC, restaurants in China.
Shares in the company fell 4 percent to $61.40 in extended trading.
(Reporting By Lisa Baertlein in Los Angeles; Editing by Leslie Gevirtz)
Most Popular Slideshows
Join the Conversation
- Nokia Lumia 730 v. Sharp Aquos Crystal – Specifications, Features And Price Showdown
- NATO: Russia's Been Conducting Too Many Military Flights Over Europe
- Apple iPhone 6 Plus vs Motorola Droid Turbo: Comparsion On Processor, Software And Battery
- Australia Special Forces Await 'Delayed' Iraqi Visas Before Joining ISIS Fight
- ISIS Has Been Equipped With Advanced Anti-Aircraft Missiles
- 8 Important Things to Consider Before Buying or Upgrading to iPad Air 2