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Daily Sound Bite: Yum Underestimates Chinese Chicken Concerns

Yum Brands expects to lose 25 cents per share at the close of it's first fiscal quarter. The decline is driven by a sharp drop in sales in China, after concerns about the quality of chicken supplied to KFC, a Yum subsidiary. The company's CEO told investors that negative media coverage lasted longer than expected.

Feb 6, 2013

Yum Brands expects to lose 25 cents per share at the close of it's first fiscal quarter. The decline is driven by a sharp drop in sales in China, after concerns about the quality of chicken supplied to KFC, a Yum subsidiary. Yum CEO David Novak said,

"The onslaught of negative media coverage has been longer lasting and more impactful than we expected."

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