Yum! Brands Inc. will invest $130 million in its Pizza Hut brand in the U.S. as part of a broad agreement with franchisees aimed at reversing the struggling chain’s decline, the company said Wednesday.
The “Transformation Agreement” comes after Pizza Hut reported a
7-percent decline in U.S. same-store sales in the first quarter — far
below same-store sales results from rivals Domino’s Pizza Inc. and Papa
John’s International Inc.
Under the agreement, Yum will invest in improving Pizza Hut’s
operations, accelerating technology enhancements and e-commerce
capabilities. It will also increase media spending, including $25
million this year and $12.5 million next year.. . . more