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Yum! digital sales mix surpasses 45%

LOUISVILLE, KY. — Digital sales and automation rose in importance at Yum! Brands in the fiscal year ended Dec. 31, 2023, while same-store sales, excluding foreign currency translation, increased 6%. The Middle East crisis, however, began to affect KFC and Pizza Hut negatively in the fourth quarter.

Net income of $1.60 billion, equal to $5.68 per share on the common stock, was up 23% from $1.33 billion, or $4.63 per share, in the previous fiscal year. Net revenues were $7.08 billion, up 3% from $6.84 billion.

Digital sales increased 22% year-over-year with digital mix exceeding 45%, said David W. Gibbs, chief executive officer of Yum!, in a Feb. 7 earnings call.

“At the same time, we have accelerated the deployment of our proprietary technologies to optimize back-of-house operations and make it easier to run our restaurants,” he said.

Automated inventory management driven by…

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