WASHINGTON (dpa-AFX) - Yum! Brands, Inc. (YUM), a quick service restaurant franchiser, Tuesday announced that it has decided to review strategic option for its pizza chain, Pizza Hut.
In certain markets, same store sales have been weak and there has been margin pressure due to higher delivery costs.
'Pizza Hut's performance indicates the need to take additional action to help the brand realize its full value, which may be better executed outside of Yum! Brands,' Chris Turner, Chief Executive Officer, Yum! Brands Inc. commented.
The company has not set a deadline or a timetable to complete the review of strategic options.
It has retained Goldman Sachs and Barclays as financial advisers for this strategic review.
In premarket, YUM shares are trading at $142.51, up 2.30% on the New York Stock Exchange.
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