NEW YORK (AP) — When KFC was hit by a controversy over its chicken suppliers in China late last year, parent company Yum Brands offered free drinks and ice cream to bring diners back.
The company, based in Louisville, Ky., apparently didn’t realize the severity of its problems; the promotion did little to assuage fears about its chicken and on Tuesday the company said it expects its earnings per share to decline 25 percent in the first quarter. Yum had already warned on Monday that a key sales figure for the region would plummet by the same percentage during the period. Profit for the full year is now expected to decline as well, snapping an 11-year streak of growth of at least 13 percent.
Recommended Stories
Print subscriber? Click here to login/register your account
Digital subscriber? Click here to login/register your account.