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The biggest takeaways from Yum Brands’ Investor Day
Alicia Kelso | Dec 13, 2022
Yum Brands, parent company of KFC, Taco Bell, Pizza Hut and The Habit Burger Grill, held its annual investor day Tuesday in New York City and it’s hard to imagine a more confident company right now. Executives touted their diverse portfolio and scale as providing a major advantage against a relentlessly uncertain economic backdrop and presented several examples to support their case. Here are some of the biggest takeaways from the presentation:
The growth engine keeps churning
Related: Yum Brands generates strong Q3 from balancing value and ‘premium value’ offerings
Yum’s restaurant count number has increased by 12% since 2019, despite Covid-related lockdowns and other unprecedented challenges, and now counts nearly 56,000 restaurants in 156 countries around the world. That pace of development is only accelerating. During the presentation, CEO David Gibbs announced the company is raising its long-term algorithm for growth to 5% unit growth, 7% system sales growth and “at least” 8% operating profit growth (from its 3%, 5% and 5% average, respectively).
“If there is one indicator of confidence that our franchise system has in our business, it’s their ability to build through all of that uncertainty,” Gibbs said.
Notably, this growth includes Pizza Hut U.S., which will be net positive this year for the first time since 2014, according to Pizza Hut CEO Aaron Powell. Yum executives have confidence in the continued pace of expansion because the penetration in the U.S. is about 60 restaurants per one million consuming class customers.
“That’s only 6% of share in the global QSR space,” said CFO Chris Turner said. “We believe there is an additional 100,000 new restaurants ore more that can be added to our (global) system. Opportunity is not our problem.”
Digitally driven growth
Gibbs added that the company’s next chapter of growth will “in many ways be powered by digital.” Prior to the pandemic, Yum generated about $12 billion in digital sales. That number has increased to $24 billion, or about 40% of total sales.
“Digital and technology is taking over everything we do at Yum. We’re really just getting started,” Gibbs said.
Indeed, Yum has made several tech acquisitions throughout the past several years and is in the process of integrating those systems throughout its global footprint. The company acquired Tiktuk in 2021, for instance, and will begin implementing that system in The Habit Burger Grill next year via the WhatsApp platform.
“There is a set of capabilities we are building, and we have also made a number of acquisitions to bring capabilities into our system. We have a competitive advantage on those acquisitions because of our scale. We’re able to see the tech players around the world who are driving the biggest impact and that our franchisees have excitement about. All of our acquisitions have been small but incredibly powerful,” Turner said.
Digital end game: 100%
The goal for Yum executives is to get to 100% of sales powered by digital. Why that is the goal is simple: digital sales generate a lift in check, frequency of existing consumers, new occasions and new consumers, Turner said, pointing to Taco Bell as a case study. The chain had virtually zero digital sales in 2018 and is now north of $3 billion. Turner added that $1 billion of those sales are incremental.
RED Innovation Team
In addition to acquisitions, the company is working to add to its digital capabilities by building and testing “further-out technology” that could drive performance. This initiative is driven by the RED (relevant, easy, distinctive) innovation team, which focuses on four specific areas: computer vision to help team members more effectively fulfill orders, for example; labor productivity, including a test of robotics in the back-of-house; drive-thru productivity, including conversational AI at the drive-thru; and Internet of Things to help save on administrative and other costs such as energy. Turner said IoT is the furthest along and has proven to reduce administrative time.
KFC accelerating access
At the brand level, KFC CEO Sabir Sami said the company is beginning to accelerate its digital business, not only by digitizing every order, but also in creating a better experience for customers and a better ability for the company to understand its consumers better. It is investing in kitchen technology, automation and intelligence so team members can better focus on guest experiences. Kiosks have been a major driver in creating more access and the sales mix from kiosks has reached nearly 40%. KFC is also focused on driving loyalty and expects to roll out a new program in the U.S. in 2023. KFC U.S. is also targeting more lunch and snacking occasions to drive unit volumes and plans to launch chicken nuggets systemwide in 2023 to support that goal.
Taco Bell aiming for more occasions
Taco Bell is striving to beef up its breakfast and lunch occasions, with CEO Mark King pointing to McDonald’s as a benchmark example of the opportunity that exists for the brand.
“Our competitors have way more reasons for customers to go to them, if you look specifically at McDonald’s dayparts, coffee treats,” he said, adding that Taco Bell’s breakfast and lunch dayparts are “significantly” behind the Golden Arches, even though dinner and late-night business is on par.
To close this gap, Taco Bell is looking at adding French fries permanently, which King believes will “increase lunch dramatically.” Also, desserts, beverages, chicken and breakfast are opportunities.
“We’ve been in and out of breakfast for seven years. It’s time to commit to it. We are committed to closing both of those gaps and have big opportunities in just those two dayparts to increase business in the coming years,” King said. “Chicken is a big one. Right now, a large percentage of our business is beef and the Gen Z consumer wants chicken.”
Another opportunity is in the digital business and King echoed his peers in wanting to eventually reach 100%. He is also intensely focused on loyalty and getting light users to buy more products.
Pizza Hut getting younger
Powell said his company’s modernization efforts will “materially add to Yum’s growth" and describes modernizing as becoming digital-first – not just on the consumer interface, but also on the operations side. It also means updating Pizza Hut’s assets to be more delivery and carryout-centric. Finally, “getting younger” means adding more everyday occasions – beyond just the Friday, Saturday, Sunday family night orders. Pizza Hut’s new Melt platform, launched in October, has supported this goal.
“It’s intentionally designed for young people. Value is important and at $6.99, we’re competing with everybody. This is a filling, compelling meal against all categories,” Powell said. “We’re very pleased with the same-store sales growth, transaction growth, new customers and repeat customers since this launched.”
The Habit getting bigger
Shannon Hennessy, president of Yum’s newest concept The Habit Burger Grill, said her concept has bold ambitions for growth as it has experienced a 30% system sales increase since joining Yum in 2020. The goal is to double The Habit’s footprint, which is currently just north of 330 units, in the next five years.
‘The scale player wins’
Perhaps the biggest takeaway from a morning full of presentations is that Yum Brands’ diversified portfolio and scale allows the company to remain insulated from persistent headwinds. During the Great Recession of 2008-10, for instance, system sales grew by 12%. Throughout the past three years of Covid and inflation, system sales have grown by 19%.
“If you are dealing with inflationary headwinds, the scale player wins,” Turner said. “It gives us advantages as we move forward. Think about the digital space as an example. Most of our investments are fixed costs.”
Potential to add more scale?
Once again , Turner was asked about the company’s willingness to add another brand to its mix and add to that advantageous scale. He answered, simply, “We’re always scanning the market for opportunities,” but added that the bar is “really high” and that any such brand must generate shareholder value.
Franchisee and consumer pulse
Finally, to get a clearer picture of Yum executives’ confidence in the company, Gibbs said franchisees are asking how to access more development opportunities, while consumers haven’t presented a “wholesale shift in behavior” to the company – despite mounting pressures and uncertainties.
“Our franchisees have seen that we can navigate cost pressures and I’d say they have more confidence than ever because we went through such a difficult period,” Gibbs said.
Contact Alicia Kelso at [email protected]
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The restaurant of the future: KFC builds the first restaurant in the world where the number of contact points is minimized
KFC’s ‘restaurant of the future’ may begin a new chapter in the digital development of the Russian restaurant industry
June 10th, 2020, Moscow – In response to the new challenges of the time, KFC is preparing to open its first ‘restaurant of the future’ in the world – a restaurant based on the concept of minimizing all possible indoor contacts. Contactless service is made possible by switching the traditional cash desks with cashiers into digital kiosks, as well as through the use of a new contactless automated zone for picking up orders and a biometric identification system for the payment and receipt of orders. The new restaurant will also become an incubator of innovative ideas and digital solutions, the most successful of which will be implemented in other KFC restaurants in Russia, thus transforming it completely.
The restaurant, located near the Butyrskaya metro station in Moscow, is operationally ready and will be able to start receiving guests as soon as the restrictions on public catering restaurants are lifted.
Pic 1. An automated order issuing system
Ordering dishes
Pic 2. The order hall and beverage station
All orders in the new restaurant will be made through digital kiosks. To simplify and speed up the procedure, KFC has additionally implemented a biometric identification system in every device in the restaurant. The system converts a face image of the customer into an individual digital code and makes it possible for the customer, once registered, to not only eliminate the need for a card or mobile phone to pay for orders during every subsequent visit to KFC, but also to order their favourite dishes faster than ever, as the system remembers and suggests the order during future visits. The guests can also place an order without registration.
The restaurant is equipped with a Click & Collect function when a guest places an order via the mobile app and picks it up at a specified time from the corresponding cell in the restaurant.
In order to improve safety and security inside the restaurant, the restaurant minimized cash circulation, so the guests can choose between a biometric identification system, a credit card or a phone which supports Apple Pay or Android Pay technologies. If a customer requires help, they can contact a hostess or call the restaurant Manager via a special SOS kiosk. Those who wish to pay in cash can still do it using a special terminal.
Pic 3. Self-service kiosks with a biometric identification system for persons with reduced mobility
Preparing and delivering the order
Pic 4. A special Robo-hand puts the order into a cell
Pic 5. A visitor picks up an order from the cell
Pic 6. Contactless automated zone for picking up orders
The kitchen in the "restaurant of the future" is partly open, allowing guests to watch the preparation process of their order as it is being assembled and transported along the conveyor belt. A special Robo-hand then moves the order into a cell, where it is stored for no longer than 10 minutes. The cell opens automatically with the help of the face recognition system, which is also installed in automatic hot drink filling machines. Thus, the first hands that touch the freshly prepared chicken are the guest's own hands.
The restaurant will feature a full KFC menu with the exception of ice cream in a cone, beer, and Chef lemonade.
The digital transformation of the largest player in the fast-food industry in Russia could impact the entire industry, contributing to its further development in line with modern digital trends.
“The digital transformation of KFC in Russia has been going on for the past few years. We implement innovations not only in our internal business processes but also work to make ordering meals directly in the restaurant and outside even more convenient and fast for millions of KFC chicken lovers. Together with our guests we will test the most advanced and interesting ideas and decide which of them will be implemented in other restaurants of the chain, thus transforming it as a whole,” said Raisa Polyakova, KFC's CEO in Russia and CIS. “In addition, our ‘restaurant of the future’ will serve as a response to the challenges of the new reality, where ensuring security and reducing the number of contacts become the key to success and a guarantee of maintaining business stability. ”
To prevent the spread of the coronavirus, the restaurant of the future, as well all of the chain’s 930 restaurants, will implement increased sanitary and hygiene measures to ensure the safety of guests and employees. Special markings will be placed on the floor in the digital kiosks area to help remind visitors to keep a social distance. Special signs will also be placed in the common areas of the restaurant and on the chairs, reminding visitors to keep a distance of 1.5 meters and offering them any other available space. Tables will be disinfected after each guest leaves, and, every 30 minutes, self-service kiosks and other surfaces that are often touched by guests. Guests of the restaurant can also use antibacterial soap in the bathrooms and disinfect their hands with a sanitizer.
KFC, a subsidiary of Yum! Brands, Inc. (NYSE: YUM.), is a global chicken restaurant brand with a rich, decades-long history of success and innovation. It all started with one cook, Colonel Harland Sanders, who created a finger lickin’ good recipe more than 75 years ago, a list of secret herbs and spices scratched out on the back of the door to his kitchen. Today we still follow his formula for success, with real cooks breading and freshly preparing our delicious chicken by hand in more than 23,000 restaurants in 140 countries and territories around the world. For more information, visit www.kfc.ru
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Americans' refusal to keep paying higher prices may be dealing a final blow to us inflation spike.
Christopher Rugaber
Associated Press
Copyright 2024 The Associated Press. All rights reserved.
A long row of unsold 2024 Atlas utility vehicles is shown Sunday, July 28, 2024, at a Volkswagen dealership in Denver. (AP Photo/David Zalubowski)
WASHINGTON – The great inflation spike of the past three years is nearly spent — and economists credit American consumers for helping slay it.
Some of America's largest companies, from Amazon to Disney to Yum Brands, say their customers are increasingly seeking cheaper alternative products and services, searching for bargains or just avoiding items they deem too expensive. Consumers aren't cutting back enough to cause an economic downturn. Rather, economists say, they appear to be returning to pre-pandemic norms, when most companies felt they couldn't raise prices very much without losing business.
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“While inflation is down, prices are still high, and I think consumers have gotten to the point where they’re just not accepting it,” Tom Barkin, president of the Federal Reserve Bank of Richmond, said last week at a conference of business economists. "And that’s what you want: The solution to high prices is high prices.”
A more price-sensitive consumer helps explain why inflation has appeared to be steadily falling toward the Federal Reserve's 2% target, ending a period of painfully high prices that strained many people's budgets and darkened their outlooks on the economy. It also assumed a central place in the presidential election, with inflation leading many Americans to turn sour on the Biden-Harris administration's handling of the economy.
The reluctance of consumers to keep paying more has forced companies to slow their price increases — or even to cut them. The result is a cooling of inflation pressures.
On Monday, the Federal Reserve Bank of New York reported that Americans' expectations of how much they'll spend in the next 12 months has declined — and so has their outlook for inflation. Consumers expect their spending to grow 4.9% in the coming year, according to a survey by the New York Fed. That is the lowest such reading since April 2021, when inflation was beginning to surge.
And they expect inflation to average just 2.3% over the next three years, the survey found, the lowest such figure since the survey began in 2013. Consumer expectations for inflation can be self-fulfilling: When households expect low inflation, they tend to delay some purchases in the expectation that prices won't rise much in the near future — and might even decline in some cases. This trend can keep price pressures down.
Other factors have also helped tame inflation, including the healing of supply chains, which has boosted the availability of cars, trucks, meats and furniture, among other items, and the high interest rates engineered by the Fed, which slowed sales of homes, cars and appliances and other interest rate-sensitive purchases.
Still, a key question now is whether shoppers will pull back so much as to put the economy at risk. Consumer spending makes up more than two-thirds of economic activity. With evidence emerging that the job market is cooling , a drop in spending could potentially derail the economy. Such fears caused stock prices to plummet a week ago, though markets have since rebounded.
This week, the government will provide updates on both inflation and the health of the American consumer. On Wednesday, it will release the consumer price index for July. It's expected to show that prices — excluding volatile food and energy costs — rose just 3.2% from a year earlier. That would be down from 3.3% in June and would be the lowest such year-over-year inflation figure since April 2021.
And on Thursday, the government will report last month's retail sales, which are expected to have climbed a decent 0.3% from June. Such a gain would suggest that while Americans have become vigilant about their money, they are still willing to spend.
Many businesses have noticed.
“We’re seeing lower average selling prices ... right now because customers continue to trade down on price when they can,” said Andrew Jassy, CEO of Amazon.
David Gibbs, CEO of Yum Brands, which owns Taco Bell, KFC and Pizza Hut, told investors that a more cost-conscious consumer has slowed its sales, which slipped 1% in the April-June quarter at stores open for at least a year.
“Ensuring we provide consumers affordable options," Gibbs said, "has been an area of greater focus for us since last year.”
Other companies are cutting prices outright. Dormify, an online retailer that sells dorm supplies, is offering comforters starting at $69 , down from $99 a year ago.
According to the Fed's “Beige Book,” an anecdotal collection of business reports from around the country that is released eight times a year, companies in nearly all 12 Fed districts have described similar experiences.
“Almost every district mentioned retailers discounting items or price-sensitive consumers only purchasing essentials, trading down in quality, buying fewer items or shopping around for the best deals,” the Beige Book said last month .
Most economists say consumers are still spending enough to sustain the economy consistently. Barkin said most of the businesses in his district — which covers Virginia, West Virginia, Maryland and North and South Carolina — report that demand remains solid, at least at the right price.
“The way I’d put it is, consumers are still spending, but they’re choosing,” Barkin said.
In a speech a couple of weeks ago, Jared Bernstein, who leads the Biden administration's Council of Economic Advisers, mentioned consumer caution as a reason why inflation is nearing the end of a “round trip” back to the Fed's 2% target level.
Emerging from the pandemic, Bernstein noted, consumers were flush with cash after receiving several rounds of stimulus checks and having slashed their spending on in-person services. Their improved finances “gave certain firms the ability to flex a pricing power that was much less prevalent pre-pandemic." After COVID, consumers were “less responsive to price increases,” Bernstein said.
As a result, “the old adage that the cure for high prices is high prices (was) temporarily disengaged,” Bernstein said.
So some companies raised prices even more than was needed to cover their higher input costs, thereby boosting their profits. Limited competition in some industries, Bernstein added, made it easier for companies to charge more.
Barkin noted that before the pandemic, inflation remained low as online shopping, which makes price comparisons easy, became increasingly prevalent. Major retailers also held down costs, and increased U.S. oil production brought down gas prices.
“A price increase was so rare," Barkin said, “that if someone came to you with a 5% or 10% price increase, you almost just threw them out, like, ‘How could you possibly do it?’ ”
That changed in 2021.
“There are labor shortages, Barkin said. “Supply chain shortages. And the price increases are coming to you from everywhere. Your gardener is raising your prices, and you don’t have the capacity to do anything other than accept them.”
The economist Isabella Weber at the University of Massachusetts, Amherst, dubbed this phenomenon “sellers' inflation" in 2023. In an influential paper , she wrote that "publicly reported supply chain bottlenecks" can “create legitimacy for price hikes” and “create acceptance on the part of consumers to pay higher prices.”
Consumers are no longer so accepting, Barkin said.
“People have a little bit more time to stop and say, ‘How do I feel about paying $9.89 for a 12-pack of Diet Coke when I used to pay $5.99?’ They don’t like it that much, and so people are making choices.”
Barkin said he expects this trend to continue to slow price increases and cool inflation.
“I’m actually pretty optimistic that over the next few months, we’re going to see good readings on the inflation side,” he said. “All the elements of inflation seem to be settling down.”
Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
KFC - Moscow, ID
Hours kfc - moscow, id, holiday hours 2024 show.
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Phone number 208-882-8363 Website www.kfc.com Social sites Customer rating 3 ( 1 x) 0 5 1
KFC - Moscow, ID - Hours & Restaurant Details
You will find KFC easily accessible in Eastside Marketplace at 1400 South Blaine Street, within the south-east part of Moscow ( close to Latah County Fairgrounds ). This restaurant is an excellent addition to the local businesses of Pullman, Genesee, Viola and Troy. 10:00 am until 8:30 pm are its operating hours for today (Tuesday). This page will supply you with all the information you need about KFC Moscow, ID, including the operating hours, place of business info, direct phone and further pertinent details.
Getting Here - South Blaine Street, Moscow
KFC can be found in a convenient place not far from the intersection of White Avenue and South Blaine Street, in Moscow, Idaho, at Eastside Marketplace.
This restaurant is found within a 1 minute drive from Hayes Street, Alturas Parkway, Troy Road or Kenneth Street; a 3 minute drive from South Washington Street (Id-8), Troy Highway and South Main Street (US-95); or a 9 minute trip from State Highway 8 (Id-8) or East 3rd Street (Id-8).
Users of GPS navigators should enter the following address when traveling here: 1400 South Blaine Street, Moscow, ID 83843.
By foot you can find East Side Marketplace, Altures Park, Indian Hills Park, Berman Creekside Park, Triangle Park and Sunset Memorial Gardens Cemetery.
KFC Locations Nearby Moscow, ID
Today, KFC runs 1 location in Moscow, Idaho.
On the following page you can see the entire index of all KFC branches near Moscow .
Eastside Marketplace
While shopping at KFC, please check out the wide range of exceptional stores in Eastside Marketplace.
Other Stores
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This presentation contains certain forward-looking statements that are subject to risks and uncertainties and speak only as of the date on which they are made. Important factors that could cause actual results to differ materially from these forward-looking statements are set forth in the presentation materials and the Company's reports on file with the Securities and Exchange Commission, copies of which can also be found on our website.
Investor Relations News Details
American express executives to participate in upcoming investor conferences.
NEW YORK--(BUSINESS WIRE)-- American Express Company (NYSE: AXP) today announced its participation in upcoming investor conferences.
On Wednesday, September 4, 2024, Anna Marrs, Group President, Global Commercial Services and Credit & Fraud Risk, will participate in a fireside chat at the 25 th Annual Scotiabank Financials Summit. Ms. Marrs will address questions relating to the commercial payments landscape and the company’s commercial business, beginning at 11:50 a.m. ET.
On Wednesday, September 11, 2024, Christophe Le Caillec, Chief Financial Officer, will participate in the Barclays Global Financial Services Conference. Mr. Le Caillec will address questions relating to the company’s business strategy and financial performance beginning at 9:00 a.m. ET.
Live audio webcasts of both events will be accessible to the general public through the American Express Investor Relations website at http://ir.americanexpress.com . An audio replay of each presentation will be available after each event at the same website address.
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Email Alert Sign Up Confirmation This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com. https://www.barrons.com/news/ukraine-nuclear-plant-fire-completely-extinguished-moscow-installed-official-5a177b09
Ukraine Nuclear Plant Fire 'Completely Extinguished': Moscow-installed Official
A fire at the Zaporizhzhia nuclear power plant in southern Ukraine has been "completely extinguished", a Moscow-installed official said Monday. The blaze had broken out at a cooling tower "after an attack by the Ukrainian armed forces", Vladimir Rogov wrote on Telegram after Kyiv blamed Russia for the incident. bur-rsc/mtp Ukraine Nuclear Plant Fire 'Completely Extinguished': Moscow-installed OfficialA fire at the Zaporizhzhia nuclear power plant in southern Ukraine has been "completely extinguished", a Moscow-installed official said Monday. An error has occurred, please try again later. This article has been sent to
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Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. Press ReleaseYum brands, inc. to host a virtual kfc investor day may 25, 2021. LOUISVILLE, Ky.--(BUSINESS WIRE)-- Yum! Brands, Inc. (NYSE: YUM) will host a virtual KFC Investor Day on May 25, 2021. This virtual investor day will highlight the largest part of Yum!’s business, the KFC division, which includes over 25,000 restaurants across over 145 countries, and will showcase the talented and diverse leaders that drive this business globally. The event will be webcast live and can be accessed through the Yum! Brands website at http://investors.yum.com/ . For additional information and registration details, please visit https://investors.yum.com/news-events/events-and-presentations/ . Yum! Brands, Inc., based in Louisville, Kentucky, has over 50,000 restaurants in more than 150 countries and territories, making it a leader in global retail development primarily operating the company’s brands – KFC, Pizza Hut and Taco Bell – global leaders of the chicken, pizza and Mexican-style food categories. The Company’s family of brands also includes The Habit Burger Grill, a fast-casual restaurant concept specializing in made-to-order chargrilled burgers, sandwiches and more. Yum! Brands was included on the 2021 Bloomberg Gender-Equality Index and in 2020, Yum! Brands was named to the Dow Jones Sustainability Index North America and was ranked among the top 100 Best Corporate Citizens by 3BL Media. Category: Financial View source version on businesswire.com : https://www.businesswire.com/news/home/20210511006216/en/ Analysts are invited to contact: Gavin Felder, Chief Strategy Officer and Interim Head of Investor Relations, at 888/298-6986 Members of the media are invited to contact: Virginia Ferguson, Senior Director, Public Relations, at 502/874-8200 Source: Yum! Brands, Inc. Press ReleasesVf corporation reports first quarter fiscal 2025 results and reiterates fy25 free cash flow guidance, related documents. DENVER--(BUSINESS WIRE)-- VF Corporation (NYSE: VFC) today reported financial results for its first quarter (Q1'FY25) ended June 29, 2024, announcing a quarterly per share dividend of $0.09. Bracken Darrell, President and CEO, said: "As I complete my first year at VF, I feel more energized than ever. While the business is still down, the rate of decline moderated quarter-over-quarter versus Q4 and across almost all our brands. We advanced further on the Reinvent transformation plan. We are on track to deliver our targeted cost savings and we have addressed one of our top financial priorities to strengthen the balance sheet with the announced sale of Supreme. Together with the first-class leadership team I have built, we are confident we will continue to make progress to return to growth and drive strong, sustainable value creation at VF." Q1'FY25 Financial Review
Balance Sheet Review
FY25 Outlook
Shareholder Returns
Webcast Information VF will host its first quarter fiscal 2025 conference call beginning at 4:30 p.m. Eastern Time today. The conference call will be broadcast live via the Internet, accessible at ir.vfc.com. For those unable to listen to the live broadcast, an archived version will be available at the same location. Founded in 1899, VF Corporation is one of the world’s largest apparel, footwear and accessories companies connecting people to the lifestyles, activities and experiences they cherish most through a family of iconic outdoor, active and workwear brands including The North Face ® , Vans ® , Timberland ® and Dickies ® . Our purpose is to power movements of sustainable and active lifestyles for the betterment of people and our planet. We connect this purpose with a relentless drive to succeed to create value for all stakeholders and use our company as a force for good. For more information, please visit vfc.com. Financial Presentation Disclosure All per share amounts are presented on a diluted basis. This release refers to “reported” and “constant dollar” or "constant currency" amounts, terms that are described under the heading below “Constant Currency - Excluding the Impact of Foreign Currency.” Unless otherwise noted, “reported” and “constant dollar” or "constant currency" amounts are the same. This release also refers to “adjusted” amounts, a term that is described under the heading below “Adjusted Amounts - Excluding Reinvent, Noncash Impairment Charges, and Transaction and Deal Related Activities.” Unless otherwise noted, “reported” and “adjusted” amounts are the same. Constant Currency - Excluding the Impact of Foreign Currency This release refers to “reported” amounts in accordance with U.S. generally accepted accounting principles (“GAAP”), which include translation and transactional impacts from foreign currency exchange rates. This release also refers to both “constant dollar” and "constant currency" amounts, which exclude the impact of translating foreign currencies into U.S. dollars. Reconciliations of GAAP measures to constant currency amounts are presented in the supplemental financial information included with this release, which identifies and quantifies all excluded items, and provides management’s view of why this information is useful to investors. Adjusted Amounts - Excluding Reinvent, Noncash Impairment Charges, and Transaction and Deal Related Activities The adjusted amounts in this release exclude costs related to Reinvent, VF's transformation program. Costs, including exit costs and project-related costs, were approximately $18 million in the first quarter of fiscal 2025. The adjusted amounts in this release exclude noncash impairment charges related to the Supreme reporting unit goodwill and indefinite-lived trademark intangible asset of approximately $145 million in the first quarter of fiscal 2025. The adjusted amounts in this release exclude transaction and deal related activities associated with the review of strategic alternatives for the Global Packs business, consisting of the Kipling ® , Eastpak ® and JanSport ® brands. Total transaction and deal related activities include costs of approximately $0.5 million in the first quarter of fiscal 2025. Combined, the above items negatively impacted loss per share by $0.34 during the first quarter of fiscal 2025. All adjusted amounts referenced herein exclude the effects of these amounts. Reconciliations of measures calculated in accordance with GAAP to adjusted amounts are presented in the supplemental financial information included with this release, which identifies and quantifies all excluded items, and provides management’s view of why this information is useful to investors. The company also provides guidance on a non-GAAP basis as we cannot predict certain elements which are included in reported GAAP results. VF defines free cash flow as cash flow from operations less capital expenditures and software purchases and defines net debt as short and long term borrowings less cash and cash equivalents. Forward-looking Statements Certain statements included in this release are "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements are made based on our expectations and beliefs concerning future events impacting VF and therefore involve several risks and uncertainties. You can identify these statements by the fact that they use words such as “will,” “anticipate,” "believe," “estimate,” “expect,” “should,” and “may” and other words and terms of similar meaning or use of future dates, however, the absence of these words or similar expressions does not mean that a statement is not forward-looking. All statements regarding VF’s plans, objectives, projections and expectations relating to VF’s operations or financial performance, and assumptions related thereto are forward-looking statements. We caution that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements. VF undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Potential risks and uncertainties that could cause the actual results of operations or financial condition of VF to differ materially from those expressed or implied by forward-looking statements include, but are not limited to: the level of consumer demand for apparel and footwear; disruption to VF’s distribution system; changes in global economic conditions and the financial strength of VF’s consumers and customers, including as a result of current inflationary pressures; fluctuations in the price, availability and quality of raw materials and finished products; disruption and volatility in the global capital and credit markets; VF’s response to changing fashion trends, evolving consumer preferences and changing patterns of consumer behavior; VF's ability to maintain the image, health and equity of its brands, including through investment in brand building and product innovation; intense competition from online retailers and other direct-to-consumer business risks; increasing pressure on margins; retail industry changes and challenges; VF's ability to execute our Reinvent transformation program and other business priorities, including measures to streamline and right-size our cost base and strengthen the balance sheet while reducing leverage, including any sale of the Supreme ® brand business; VF’s ability to successfully establish a global commercial organization, and identify and capture efficiencies in our business model; any inability of VF or third parties on which we rely, to maintain the strength and security of information technology systems; the fact that VF’s facilities and systems, and those of third parties on which we rely, are frequent targets of cyber-attacks of varying levels of severity, and may in the future be vulnerable to such attacks, and any inability or failure by us or such third parties to anticipate or detect data or information security breaches or other cyber-attacks, including the cyber incident that was reported by VF in December 2023, could result in data or financial loss, reputational harm, business disruption, damage to our relationships with customers, consumers, employees and third parties on which we rely, litigation, regulatory investigations, enforcement actions or other negative impacts; any inability by VF or third parties on which we rely to properly collect, use, manage and secure business, consumer and employee data and comply with privacy and security regulations; VF’s ability to adopt new technologies, including artificial intelligence, in a competitive and responsible manner; foreign currency fluctuations; stability of VF's vendors' manufacturing facilities and VF's ability to establish and maintain effective supply chain capabilities; continued use by VF’s suppliers of ethical business practices; VF’s ability to accurately forecast demand for products; actions of activist and other shareholders; VF's ability to recruit, develop or retain key executive or employee talent or successfully transition executives; continuity of members of VF’s management; changes in the availability and cost of labor; VF’s ability to protect trademarks and other intellectual property rights; possible goodwill and other asset impairment such as the impairment charges related to the Supreme reporting unit goodwill and indefinite-lived trademark intangible asset; maintenance by VF’s licensees and distributors of the value of VF’s brands; VF’s ability to execute acquisitions and dispositions, integrate acquisitions and manage its brand portfolio, including the proposed sale of the Supreme ® brand business; whether and when the required regulatory approvals for the proposed sale of the Supreme ® brand business will be obtained, whether and when the closing conditions will be satisfied and whether and when the proposed sale of the Supreme ® brand business will close, if at all; our ability to execute, and realize benefits, successfully, or at all, from the proposed sale of the Supreme ® brand business; business resiliency in response to natural or man-made economic, public health, cyber, political or environmental disruptions; changes in tax laws and additional tax liabilities; legal, regulatory, political, economic, and geopolitical risks, including those related to the current conflicts in Ukraine and the Middle East and tensions between the U.S. and China; changes to laws and regulations; adverse or unexpected weather conditions, including any potential effects from climate change; VF's indebtedness and its ability to obtain financing on favorable terms, if needed, could prevent VF from fulfilling its financial obligations; VF's ability to pay and declare dividends or repurchase its stock in the future; climate change and increased focus on environmental, social and governance issues; VF's ability to execute on its sustainability strategy and achieve its sustainability-related goals and targets; risks arising from the widespread outbreak of an illness or any other communicable disease, or any other public health crisis, including the coronavirus (COVID-19) global pandemic; and tax risks associated with the spin-off of our Jeanswear business completed in 2019. More information on potential factors that could affect VF’s financial results is included from time to time in VF’s public reports filed with the SEC, including VF’s Annual Report on Form 10-K, and Quarterly Reports on Form 10-Q, and Forms 8-K filed or furnished with the SEC.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240806789054/en/ Investor Contact: Allegra Perry [email protected] Media Contact: Colin Wheeler [email protected] Source: VF Corporation Released August 6, 2024
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IMAGES
COMMENTS
Investors. Yum! Brands, Inc., based in Louisville, Kentucky, and its subsidiaries franchise or operate a system of over 59,000 restaurants in more than 155 countries and territories under the company's concepts - KFC, Taco Bell, Pizza Hut and the Habit Burger Grill. The Company's KFC, Taco Bell and Pizza Hut brands are global leaders of the ...
Events & Presentations. Notify me of new Company events. Send me reminders of Company events. In order to provide archives of our conference calls, this page makes use of the RealAudio plugin and/or Windows Media Player. To experience the audio features, you need sound capabilities on your personal computer and installation of RealPlayer or ...
Past Events. Tuesday, August 6, 2024 08:15 AM ET. Q2 2024 Yum! Brands, Inc. Earnings Conference Call. In order to provide archives of our conference calls, this page makes use of the RealAudio plugin and/or Windows Media Player. To experience the audio features, you need sound capabilities on your personal computer and installation of ...
n KFC is "Always Original." Across the globe, KFC continued to invest in innovation by rebundling, repackaging and reconceptualizing our core menu items. From our world famous Original Recipe to new signature flavors and formats, KFC is all about making the most craveable, Colonel-inspired chicken in the world, the right way, with
KFC successfully launched its chicken sandwich platform in the U.S. to match its globally successful sandwich offerings in multiple international markets. Taco Bell is truly a Category of One for Everyone, believing everyone deserves the right to Live Más. The brand spent 2021
LOUISVILLE, Ky.-- ( BUSINESS WIRE )--Yum! Brands, Inc. (NYSE: YUM) will host a virtual KFC Investor Day on May 25, 2021. This virtual investor day will highlight the largest part of Yum!'s ...
2021 Highlights: We remain committed to advancing our Recipe for Growth. During 2021, we opened nearly 4,200 restaurants in over 110 countries, resulting in 3,057 net-new units and signaling that our develop ment engine is diversified and stronger than ever. This accelerated restaurant development is a testament to the health of our business.
Brands, Inc. • 1900 Colonel Sanders Lane • Louisville, KY 40213. Tel 502 874-8300 • investors.yum.com. FOURTH-QUARTER HIGHLIGHTS. •Worldwide system sales decline excluding foreign currency translation of (2)%, with KFC at (1)%, Taco Bell at (3)%, and Pizza Hut at (6)%. •We added 227 net new units for the quarter.
Brands, Inc. (NYSE: YUM) today reported results for the fourth-quarter and year ended December 31, 2022. Fourth-quarter GAAP EPS was $1.29, an increase of 17%. Fourth-quarter EPS excluding Special ...
Brands, Inc. (NYSE: YUM) today reported results for the first-quarter ending March 31, 2023. Worldwide system sales excluding foreign currency translation grew 13% excluding Russia impact, with 8% ...
Yum Brands, parent company of KFC, Taco Bell, Pizza Hut and The Habit Burger Grill, held its annual investor day Tuesday in New York City and it's hard to imagine a more confident company right now.
2023 Investor Day. Second Quarter 2024 Results. LATEST EVENTS Q2 2024 Yum China Earnings Call August 5, 2024 8:00 p.m. U.S. Eastern Time. KCOFFEE Celebrates the Opening of its 200th Store in China. 2023 Investor Day.
10% System Sales Growth Driven by 6% Same-Store Sales Growth and 6% Unit Growth; 12% GAAP Operating Profit Growth and 16% Core Operating Profit Growth Yum! Brands, Inc. (NYSE: YUM) today reported results for the third quarter ended September 30, 2023. Worldwide system sales, excluding foreign currency translation, grew 10%, with 6% same-store sales growth and 6% unit growth.
2021 Investor Day - KFC. 2021 Investor Day - Pizza Hut. 2021 Investor Day - Coffee. 2021 Investor Day - Digital. 2021 Investor Day - Supply Chain. ... Yum China 2016 Investor Meeting Presentation. Non-GAAP Reconciliations. Annual Meeting of Stockholders. Yum China Holdings, Inc. 2024 Annual Meeting of Stockholders. May 23, 2024
KFC Named to Fast Company's Annual List of the World's Most Innovative Companies of 2024Recognized for innovation in Advertising and Mark... Read More. KFC Surpasses 30,000 Restaurants Worldwide. March 12, 2024. KFC's 30,000th restaurant opened in Rome, Italy, marking a major global milestone for the brand.
KFC's 'restaurant of the future' may begin a new chapter in the digital development of the Russian restaurant industry. June 10th, 2020, Moscow - In response to the new challenges of the time, KFC is preparing to open its first 'restaurant of the future' in the world - a restaurant based on the concept of minimizing all possible indoor contacts.
The Russian incarnation of KFC opens its first restaurant in Moscow after the American fast food chain exited the country over the Kremlin's offensive in Ukraine. The new owners of the US giant's ...
Ltd., including all Russian KFC restaurants, operating system, master franchise rights and the trademark for the Rostik's brand. With the completion of the transaction, we ceased our corporate presence in Russia. • As of the beginning of the second quarter 2022, we elected to remove Russia from our unit count and system sales. Yum! and KFC
KFC gained market share on delivery platforms, amid an economic downturn in the mainland, by expanding price range and reducing delivery fees, Watt said. ... ANALYSIS Investors feel the pinch of ...
David Gibbs, CEO of Yum Brands, which owns Taco Bell, KFC and Pizza Hut, told investors that a more cost-conscious consumer has slowed its sales, which slipped 1% in the April-June quarter at ...
Dollar Tree Moscow, ID. 1430 South Blaine Street, Moscow. Open: 9:00 am - 9:00 pm 0.11mi. This page will supply you with all the information you need about KFC Moscow, ID, including the operating hours, place of business info, direct phone and further pertinent details.
10% System Sales Growth Excluding Russia Impact; Led by 5% Same-Store Sales Growth with 979 Gross Unit Openings Yum! Brands, Inc. (NYSE: YUM) today reported results for the third quarter ended September 30, 2022. Worldwide system sales excluding foreign currency translation grew 7%, with 5% same-store sales growth and 4% unit growth. Third quarter GAAP operating profit grew 4%. Third quarter ...
Caledonia will host an online investor presentation and Q&A session on August 12, 2024 at 14:00 London Time . When: Aug 12, 2024 02:00 PM London. Topic: Q2 2024 Results Call for Investors.
American Express Company (NYSE: AXP) today announced its participation in upcoming investor conferences. On Wednesday, September 4, 2024, Anna Marrs, Group President, Global Commercial Services and Credit Fraud Risk, will participate in a fireside chat at the 25 th Annual Scotiabank Financials Summit. Ms. Marrs will address questions relating to the commercial payments landscape and the ...
We ended 2020 on a digital sales high note of a record $17 billion, about a 45% increase over the prior year. On average, we opened seven gross restaurants per day, and we ended the year with more than 50,000 global restaurants in approximately 290 brand-country combinations, with system sales exceeding $50 billion. KFC is "Always Original".
A fire at the Zaporizhzhia nuclear power plant in southern Ukraine has been "completely extinguished", a Moscow-installed official said Monday.
This presentation contains forward-looking statements that are based on management's current expectations, ... Investors should refer to the reconciliations included in this presentation and should consider the company's non-GAAP measures in addition to, not as a substitute for or superior to, measures prepared in accordance with GAAP. ...
Patents. Yum! Brands RSC, 1900 Colonel Sanders Lane, Louisville, KY 40213, 502.874.8300. Forward Looking Statement. This page includes forward-looking statements that are subject to numerous factors that could cause our actual results and events to differ materially from those expressed or implied by forward-looking statements.
Yum! Brands, Inc. (NYSE: YUM) will host a virtual KFC Investor Day on May 25, 2021. This virtual investor day will highlight the largest part of Yum!'s business, the KFC division, which includes over 25,000 restaurants across over 145 countries, and will showcase the talented and diverse leaders that drive this business globally. The event will be webcast live and can be accessed through the ...
Basis of presentation of condensed consolidated financial statements: VF operates and reports using a 52/53 week fiscal year ending on the Saturday closest to March 31 of each year. For presentation purposes herein, all references to the three months ended June 2024 and June 2023 relate to the 13-week fiscal period ended June 29, 2024 and the ...