Brands portfolio. In September , Yum! In May , Yum! The deal spent more than 4 months in anti-trust review by the Chinese Ministry of Commerce, to determine whether or not the transaction would result in a monopolistic positioning of Yum! The Ministry approved the deal in November , according to Little Sheep representatives. The company opened its first restaurant in Ulaanbaatar, Mongolia in May, For Mongolia, KFC is the first western fast food to open its doors in the country.
Brands opened its 40,th store in Calangute, Goa, India in October In the third quarter of , Yum! Chipotle Mexican Grill, Inc. Compass Group Plc history, profile and corporate video Compass Group Plc provides food and support services to customers in the workplace, in schools and colleges, hospitals, at leisure and in remote environments.
Pizza Hut also achieved, for the first time, a one million dollar sales week in the U. At the end of , Pizza Hut made its long-anticipated offer of , shares of common stock to the public. The company also added a second distribution center, in Peoria, Illinois.
Three years later, the chain had more than restaurants outside the United States and two thousand units in its franchise network. The company's 2,th restaurant was opened in Independence, Missouri. In , Pizza Hut became a cornerstone's in PepsiCo's restaurant division. The Taco Bell brand was launched in by Glen Bell, a World War II veteran who had worked in the restaurant industry since , when he opened his first hot dog stand in San Bernardino, California.
The fast food chain's success soon drew the attention of PepsiCo Inc. The launch failed, however, and Pizza Hut soon had to write off its investment. PepsiCo's strategy in acquiring Taco Bell was simple: the fast food chain dominated the Mexican food market, so PepsiCo was buying market share. For PepsiCo, the challenge was to make Taco Bell less a regional ethnic food phenomenon and more a national fast food chain.
Glen Bell had originally sought to set Taco Bell apart from other fast food chains, McDonald's in particular, and its preeminent position among other Mexican food chains, almost all of them regional or local rivals, was already secure. PepsiCo's decision to reposition Taco Bell was a challenge to the fast food giants on a national scale.
The PepsiCo strategy emphasized that Taco Bell outlets would sport spartan simplicity in decor and menu, with a concentration on predictable quality, affordable prices, and clean and convenient surroundings. Taco Bell also moved swiftly to redesign the company logo. The old logo, a Hispanic man dozing under a giant sombrero, was replaced by a sparkling bell atop the company name.
As Larry Higby, senior vice-president of marketing at Taco Bell, noted in Advertising Age, "Usually when you try to turn something around, you look to develop breakthrough advertising. But we came to exactly the opposite conclusion: we needed to look more mainstream. Taco Bell grew rapidly during the early s. By , when John E. Martin took over as president, the chain had 1, outlets in 47 U. The company's success continued throughout the s and came even as a recession led to savage price-cutting and cutthroat competition in the fast food industry.
This fact impressed industry analysts. A article in the Harvard Business Review named Taco Bell as the best performer in the fast food industry at the time, surpassing traditional market leader McDonald's. In the fourth quarter alone, Yum! And, as mentioned above, India comes only second to China in the percentage of company-owned KFC units.
All five of the Taco Bells in the country as of year's end were also Yum! But how does Yum! And comparing global same-store sales doesn't look pretty for Yum!. McDonald's had its own rough year because of some menu misfires, but the same-store sales look worlds better than Yum! But without China added to the mix, Yum!
So how would the Yum! McDonald's performance last year was chiefly affected by the company's admitted menu problems. But the main problem at Yum! Foolish final thoughts Yum! Brands has come a long way since its days with Pepsi. But the company needs to strengthen the performance of KFC and Pizza Hut domestically and put its Chinese quality issues firmly in the past.
The segment reporting changes in the first quarter will change the overall comps picture due to the melding of U. But it's important to look at the details behind the numbers.
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