Yum! Brands Inc. said it expects KFC's sales in China to suffer because of a recent government investigation of its poultry.
The company announced in late December that the Chinese government was conducting a review of two poultry suppliers who provided chicken with unapproved levels of antibiotics to KFC. While the supplies represent a small percentage of the company's product, the publicity did slow sales.
Yum! Brands said that due to the bad publicity associated with the review, it expects a key sales measure for KFC in China will come in lower than expected. It expects revenue from its stores in China open at least a year will be down 6 percent for the fourth quarter of its 2012 fiscal year, as opposed to its prior forecast of a 4 percent decline.
Yum! expects to earn $3.24 for the full fiscal year on an adjusted basis. The company declined to comment further until it releases its full quarterly results on February 4.
Joint Industry Safety and Health Council presents awards at conference
Long-running pay dispute could threaten supermarket poultry, meat supplies
Federation also presents awards and hears from Tyson CEO during annual meeting
Terms of sale of Perdue Farms breeding program have not been released
Companies working together on world’s largest free-range poultry operation that includes houses that give birds access to outdoor areas
--- Thank you for your patience ----
If you have any issues logging in or any other need feel free to contact us.