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4-Traders Homepage  >  Equities  >  Nyse  >  Yum Brands    YUM

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Yum Brands : KFC returning to former supplier in UK after chicken shortage

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03/08/2018 | 10:41pm CEST
FILE PHOTO - A closed sign hangs on the drive through of a KFC restaurant after problems with a new distribution system in Coalville

LOS ANGELES (Reuters) - Yum Brands Inc's KFC chain is returning to a former supplier for more than one-third of its UK restaurants after a switch to a new firm caused widespread chicken shortages that forced the temporary closure of hundreds of restaurants.

LOS ANGELES (Reuters) - Yum Brands Inc KFC chain is returning to a former supplier for more than one-third of its UK restaurants after a switch to a new firm caused widespread chicken shortages that forced the temporary closure of hundreds of restaurants.

KFC on Thursday said it would switch the distribution contract back to Bidvest Logistics, from DHL and partner QSL, for up to 350 restaurants in the north of the UK. It will continue to work with DHL and QSL for the remainder of its roughly 900 restaurants in the UK and Ireland.

"We've been working hard to resolve the present situation with QSL and DHL. This decision will ease pressure at DHL's Rugby depot, to help get our restaurants back to normal as quickly as possible," KFC said in a statement.

KFC said more than 97 percent of its UK restaurants are open for business, but "there will be some limited menus before we are back to business as usual."

The crisis in the UK market, which accounted for roughly 3 percent of Yum's 2017 global system sales, comes as a business turnaround at the fried chicken chain was taking hold.

(Reporting by Lisa Baertlein in Los Angeles; Editing by Leslie Adler)

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Financials ($)
Sales 2018 5 604 M
EBIT 2018 1 776 M
Net income 2018 1 327 M
Debt 2018 8 710 M
Yield 2018 1,73%
P/E ratio 2018 20,26
P/E ratio 2019 20,96
EV / Sales 2018 6,33x
EV / Sales 2019 6,51x
Capitalization 26 766 M
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 87,9 $
Spread / Average Target 8,6%
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Managers
NameTitle
Greg Creed CEO & Non-Independent Director
David W. Gibbs President & Chief Financial Officer
Robert D. Walter Non-Executive Chairman
Thomas C. Nelson Independent Director
Mirian M. Graddick-Weir Independent Director
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