Yum! Brands, Inc. reports developments across a global quick-service restaurant portfolio that includes KFC, Pizza Hut, Taco Bell and Habit Burger. News commonly centers on brand-level menu value, product and marketing campaigns, loyalty programs, gift card infrastructure, digital ordering activity, franchise-system sales, same-store sales and unit growth.
Company updates also cover quarterly results, conference calls and board appointments. Because Yum! operates primarily through a franchised restaurant model, recurring news links consumer demand, franchisee economics, restaurant development, technology initiatives and international market performance to the company's operating results.
The Taco Bell Foundation has announced the recipients of the 2024 Live Más Scholarship, celebrating outstanding students who embody the spirit of innovation and community service.
Axel O. from Las Vegas is attending the University of Nevada Las Vegas, continuing his mariachi music journey. Tallulah M. from Omaha, an aspiring trauma surgeon, will study pre-med at the University of Nebraska-Lincoln. Ritisha L. from Atlanta, a mental health advocate, is set to deepen her research at Emory University.
Gracie S. from Perris, founder of 'Girls on the Mound' and Taco Bell team member, will pursue business management and marketing. Ethan C., a film production student at Chapman University, aims to highlight diverse narratives through his work. The scholarship program provides financial support, networking platforms, and professional development resources to help these students achieve their goals.
KFC introduces new Honey BBQ Saucy Nuggets and extends popular deals starting today. The lineup features fan-favorite sauces, including Korean BBQ and Honey Sriracha. Honey BBQ, a sweet and tangy sauce, is now available for KFC Nuggets for the first time.
KFC also extends its $10 Tuesdays offer: get eight pieces of chicken for just $10. Additionally, free delivery is offered every Sunday this summer on KFC.com and the KFC app.
Other value deals include a $4.99 Meal for One and a $20 Family Meal. Customers are encouraged to join the KFC Rewards loyalty program for more deals and freebies.
Yum! Brands has published the latest installment of its #HowIGotHere series, featuring Mary Gertz, Chief Food Safety & Quality Assurance Officer. Mary's journey spans from her first job at a Mexican restaurant to her current prestigious role at Yum! Brands. She emphasized learning from failures, balancing work, and personal life, and setting non-negotiables like never missing family milestones. Influenced by her father's entrepreneurial spirit and her family's unique approach to learning from mistakes, Mary’s career includes significant roles in various companies. At Yum! Brands, she focuses on food safety and quality assurance, underscoring the importance of her work in contributing positively to people’s lives.
Emily True, a senior manager at Pizza Hut, is leading the brand's sustainability initiatives, blending her expertise in environmental science with business acumen. Her journey started along the Massachusetts coast, leading her to study environmental science at the University of Massachusetts Boston and earn a master's in environmental management from Duke University. At Pizza Hut, she has spearheaded the 'Recipe for Good' strategy, partnering with Dairy Farmers of America to reduce greenhouse gas emissions from cheese production by 10%. Emily's personal and professional commitment to sustainability includes eco-friendly practices like composting, reducing food waste, and promoting public transportation. She emphasizes the importance of integrating sustainability into the core business strategies to drive innovation, enhance brand reputation, and ensure long-term profitability.
KFC has announced its new Building Green initiative, requiring both new and existing franchisees to adopt measures aimed at reducing carbon emissions by 46%. Developed by KFC's development and sustainability teams, the initiative includes 11 mandatory practices such as optimizing exhaust hoods and food warming equipment. The global fast-food giant, with nearly 30,000 franchises worldwide and an opening rate of one new location every 3.5 hours, aims to cut its Scope 3 emissions, which are primarily from its restaurants and chicken farming. Future considerations for franchisees include the installation of EV charging stations.
Pizza Hut has announced the appointment of Kalen Thornton as Global Chief Brand Officer, effective June 10, 2024. Thornton will lead global brand strategy and marketing across 110 markets. Previously, Thornton held senior marketing roles at PepsiCo and Nike. Additionally, Melissa Friebe will become Chief Marketing Officer for Pizza Hut U.S., transitioning from Taco Bell, where she served as Chief Brand Strategy Officer. Friebe succeeds Lindsay Morgan. Pizza Hut CEO Aaron Powell expressed confidence in the new appointees' ability to drive brand growth and resonance.
Yum! Brands has declared a quarterly dividend of $0.67 per share, to be distributed on June 7, 2024, for shareholders of record as of May 28, 2024. The company also announced a new share repurchase authorization of up to $2.0 billion, effective from July 1, 2024, through December 31, 2026. Yum! Brands operates over 59,000 restaurants worldwide, including KFC, Taco Bell, Pizza Hut, and The Habit Burger Grill. The company's recent accolades include being named to the Dow Jones Sustainability Index North America and receiving recognition from TIME Magazine and Newsweek for corporate responsibility and leadership. The previous share repurchase authorization, approved in September 2022, will expire on June 30, 2024.
The Taco Bell Foundation announced its largest investment yet in the Live Más Scholarship program, awarding a total of $10 million to over 1,000 students. Of this, $7 million will go to Taco Bell fans and $3 million to Taco Bell team members. Scholarships range from $5,000 to $25,000 per recipient. Unique to this program, students are selected based on a two-minute video showcasing their passions rather than traditional academic criteria. Notably, this year's top winners also receive Taco Bell gift cards. The initiative is funded by customer donations and Taco Bell franchisees. The program promotes diversity, supporting students from various educational paths, and includes a new Alumni Leadership Council.
The KFC Foundation is awarding $250,000 in grants to 25 community-based non-profit projects focused on education and training. This initiative, part of the Kentucky Fried Wishes program, will distribute $1 million in total grants to 100 non-profits nationwide in 2024.
This quarter's recipients span 20 states and support various causes, such as Boolean Girl's STEM program for girls in Arlington, VA, and the Gateway Regional Arts Center's Pottery for Change program in Mt. Sterling, KY. These grants will provide critical resources like laptops and art therapy classes, benefiting hundreds of individuals.
The next grant cycle will focus on health and well-being, with applications open from May 1-31.
Starting today, Pizza Hut launches the Cheeseburger Melt, entering the burger market with a unique product that combines a parmesan-crusted thin crust with beef, applewood-smoked bacon, onions, mozzarella, and cheddar. This innovative menu item aims to offer a portable, crunchy, and cheesy alternative to traditional burgers. To promote the launch, Pizza Hut introduces a campaign encouraging customers to 'cheat on their cheeseburger' by offering free Cheeseburger Melts and PEPSI® at select burger chain drive-thrus in Chicago and Miami. This promotion is valid while supplies last until May 20, 2024. The Cheeseburger Melt is available as part of the My Hut Box™ offer, starting at $6.99, which includes a choice between Melts or a 2-topping Personal Pan Pizza®, sides, and a drink.