Yum Brands Inc beat Street estimates for quarterly sales and profit on Wednesday, as more cash-strapped consumers flocked to its Taco Bell restaurant chain for pocket-friendly meals and snacks amid still high inflation.
beat Street estimates for quarterly sales and profit on Wednesday, as more cash-strapped consumers flocked to its Taco Bell restaurant chain for pocket-friendly meals and snacks amid still high inflation.
Taco Bell has lured more customers with its cheap menu offerings such as the $2 burritos, while demand has remained steady for its higher-priced crowd-favorite items such as quesadillas and Crunchy Wraps. Analysts have said Taco Bell is well-positioned to further drive sales and margins through add-on items, combo meals and more premium offerings such as the $5 grilled cheese burrito, even as the Mexican-inspired chain ramps up cheaper food options.
Taco Bell also brought back its Mexican Pizza as a permanent menu item in September, after pulling it off in 2020, which helped fuel an 11% jump in same-store sales at the chain, crushing analysts' estimate for a 6.8% rise.
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