The other half of the Einhorn Chipotle thesis, Yum Brands (YUM), snoozes the news that Chipotle...

This news story has 4 comments:

Register or Login to rate comments »

Fin858 Comments (450)
 
Well since 90% of YUM restaurants in the US are franchised, those traders who think that share gains at Taco Bell will benefit YUM's bottom-line are idiots. Any share shift in the US will moderately benefit YUM's profits if at all.
18 Oct 2012, 04:58 PM Reply Like

YumCynic Comments (2)
 
Yum's US Taco Bell business is the least franchised of their US concepts (offhand I can't recall exactly) but their equity ownership proportion is significantly greater than for KFC or Pizza Hut. Any TB wins will be enjoyed by Yum's bottom line.
19 Oct 2012, 12:31 AM Reply Like

YumCynic Comments (2)
 
Taco Bell is the least franchised of Yum's US businesses so there will be a definite flow to the bottom line if TB keeps winning.
19 Oct 2012, 12:31 AM Reply Like

micunca Comment (1)
 
And YUM reported flatish China sales last quarter, despite openning additional stores in china, which translates to negative growth in China.
19 Oct 2012, 01:35 AM Reply Like