Yum! reconfirms guidance
December 4, 2009
LOUISVILLE, KY. — Yum! Brands Inc. on Dec. 4 reaffirmed its full-year 2009 earnings-per-share growth forecast at 12% and said it expects to deliver at least 10% e.p.s. growth in fiscal 2010. The announcement comes in advance of the company’s investor update, scheduled for Dec. 9.
David Novak, chairman and chief executive officer of Yum! Brands, said 2009 has been a year of solid performance, led by operations in China and Yum! Restaurants International.
“This performance has been driven by our industry leading international new unit development, favorable commodity costs, productivity gains across our businesses, and a lower effective tax rate,” he said.
Mr. Novak said the company’s greatest challenge remains driving same-store sales growth.
“All indications are that 2010 will be another challenging year, and we have built our plans accordingly. We plan to deliver at least 10% e.p.s. growth in 2010 benefiting from international new unit development, disciplined cost management, modest same-store sales growth and favorable foreign currency translation.”