For the first time in several quarters, Taco Bell wasn’t hogging the Yum Brands earnings spotlight, making some room in Q1 for its sister brand Pizza Hut, which generated an 8% domestic same-store sales increase.
This is a wildly different story from a year ago, when Pizza Hut’s domestic sales plunged by 6% as the chain lapped a strong, pizza-fueled Covid environment from 2021 and struggled with delivery driver shortages that hindered the entire segment.
KFC also got a sliver of that spotlight, reporting a 2% same-store sales increase on the quarter. Like Pizza Hut, KFC got a lift from the expansion of its menu to appeal to more guests, as well as a barbell pricing approach. Specifically, KFC’s new chicken wraps were introduced in the quarter as part of a two-for-$5 promotion and that deal strongly resonated with lower-income consumers.