Yum Sees 10% EPS Growth In 2010,Calls Year ‘Challenging’

According to CNNMoney.com, “Yum Brands Inc. (YUM) plans grow per-share earnings at least 10% in 2010 in what the global fast-food chain expects to be another challenging year.”

“The current quarter offers no relief from the global consumer slump, as Yum sees weak fourth-quarter sales in its key mainland China market and in the U.S., its largest division. Shares fell 2.4% to $34.28 in recent trading. The operator of KFC, Pizza Hut, Taco Bell and other restaurants expects same- store sales to fall 8% domestically and 3% in the China region in the current period. Barclays Capital analyst
Jeffrey Bernstein
said the trends represent a slowdown in both markets. In other international markets, the company projected a 1% decline in same- store sales for the fourth quarter.”