"Yum! Brands, Pizza Hut's parent company, said on Tuesday that it is exploring a potential sale of the red-roofed icon. The announcement came as the company reported that Pizza Hut's same-store sales fell 1% during the third quarter, marking the eighth consecutive quarter of declines. I visited two Southern California locations to see why Pizza Hut is falling behind and found a restaurant caught between its nostalgic past and an uncertain future."
""The Pizza Hut team has been working hard to address business and category challenges; however, Pizza Hut's performance indicates the need to take additional action to help the brand realize its full value, which may be better executed outside of Yum! Brands," Chris Turner, chief executive of Yum! Brands, said in a Tuesday statement. Yum! Brands has retained Goldman Sachs and Barclays as financial advisors to review potential deals."
Yum! Brands is exploring a potential sale of Pizza Hut after the chain reported a 1% same-store sales decline in the third quarter, the eighth consecutive quarter of declines. Visits to two Southern California locations found restaurants caught between nostalgic sit-down roots and a mostly take-out present. Food quality remained comparable to other pizza chains, but consumer perception of value appears unclear amid crowded competition. Pizza Hut rose to prominence after its 1958 founding with family-style restaurants and salad bars before scaling back large formats. Yum! Brands has retained Goldman Sachs and Barclays to review strategic options.
Read at Business Insider
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