Friday, May 5, 2017

Yum to invest $130M in Pizza Hut

Image result for pizza hut storeYum! 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

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