Yum Brands CEO: Half Of The U.S. Population Eats At Taco Bell Once A Month
Greg Creed, the CEO of Yum! Brands, Inc. (NYSE: YUM), was a guest on CNBC's "Squawk Box" on Wednesday to discuss the company's business, specifically Taco Bell's successes and what areas of the business could see some improvements.
Creed used to run the Taco Bell unit for eight years and said that half of the U.S. population eats at Taco Bell once a month. He added that the unit's annual revenue rate will approach $10 billion in the United States partly due to breakfast, which proved to be a "really big win" and saw a 14 percent tranactional growth in the quarter.
Creed continued that Pizza Hut stands to benefit the most and has fallen behind to its main rival, Domino's Pizza, Inc. (NYSE: DPZ).
The executive suggested that Domino's has done a "better job" implementing technology in its business, and a lot has to be done to make Pizza Hut "more relevant and distinctive."
However, Pizza Hut is still the global leader in pizza with 16,000 restaurants and $12 billion in sales.
"The proof is, we turned around our KFC U.S. business, which two years everyone had written off," Creed said. "We can do the same for Pizza Hut. I think it's a real growth story."
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