Quantcast


Last updated: March 16. 2013 10:05PM - 65 Views

Story Tools:

Font Size:

Social Media:

(AP) KFC parent company Yum Brands expects a controversy over its chicken suppliers in China to hammer its first-quarter earnings per share by 25 percent, but the company says it plans to forge ahead with its expansion in the country.


The company, which also owns Pizza Hut and Taco Bell, has been reeling from the chicken supplier issue since a December report on Chinese television. The report said suppliers had been ignoring regulations and giving chickens unapproved levels of antibiotics.


On Thursday, Yum warned that a key sales figure would plummet by 25 percent in China in the first quarter. For the fourth quarter, the figure fell 6 percent.


CEO David Novak says he's confident the KFC brand in China will recover eventually but could not say when that would be.


Associated Press
Comments
comments powered by Disqus



Featured Businesses


Poll



Info Minute



Gas Prices

Wilkes-Barre Gas Prices provided by GasBuddy.com