Taco Bell's Incoming CEO Weighs In On Increasing Competition In Restaurant Space

Although the Yuan devaluation might affect sales of Yum! Brands, Inc. YUM in China, its subsidiary Taco Bell is optimistic about the future. Incoming Taco Bell CEO, Brian Niccol, was on CNBC recently to discuss the outlook for the business and the competition in the restaurant space.

Firing On All Cylinders

"Luckily the Taco Bell business has had just tremendous momentum," Niccol began. "We had some really exciting product innovation...our breakfast program. Most recently we are doing these daredevil loaded grillers which is getting rave reviews."

He continued, "But we really have been on a streak of, I think, hiring great people to run the restaurants and then having just terrific food innovation across all [day] parts. And we have become, I think, a real leader in the social media space with these young consumers."

The Taco Bell Formula

On the heating up of competition in the restaurant space, Niccol said, "The thing that's great about our industry is it's very dynamic. And we won't be doing breakfast all day because we still have so much opportunity to just continue to get great experiences in the morning. And what we really do believe is the way we continue to win is continue to [...] continue to lead on innovation.

"And I would argue like right now we are doing these daredevil loaded grillers [for a] dollar, I am not sure there's anything out there that is as exciting for a dollar that you can get right now as a customer for dining out."

"And that's really been our formula which is listen to our consumers -- through the social media digital space, just being out in our restaurants -- and then coming back with food that I think is very much connected with the culture and the lifestyle that they live today. And, I think, that formula is going to continue to work," Niccol concluded.