Taco Bell parent Yum Brands beats quarterly same-store sales estimates

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Fast food chains have been hiking menu prices to keep up with surging commodity and labor costs, but meals at KFC and Taco Bell are still more affordable than eating out at dine-in restaurants keeping demand resilient as inflation forces consumers to rethink their spending habits.

The company, which also owns the Pizza Hut chain, said comparable sales rose 5% in the third quarter, compared to analysts’ average estimate of a 3.2% increase, according to IBES data from Refinitiv.

Same-store sales at Yum’s KFC restaurants rose 7%, while sales rose 6% at Taco Bell in the quarter.