(Reuters) – Taco Bell parent Yum Brands Inc beat Wall Street estimates for quarterly comparable sales on Wednesday, benefiting from price hikes and its value-oriented offerings at Taco Bell attracting consumers amidst soaring inflation.
The company, which also owns KFC and Pizza Hut chains, said comparable sales rose 5% in the third quarter, compared to analysts’ average estimate of a 3.2% increase, according to IBES data from Refinitiv.
(Reporting by Mehr Bedi and Uday Sampath in Bengaluru; Editing by Shailesh Kuber)
