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.
Foss MeatMaster II application for after-grinder testing measures the fat
content of ground meat in line as it is transported from the grinder to the
mixer, ensuring an accurate, 100-percent x-ray fat analysis of the entire batch
of meat. The Foss MeatMaster II application for after-grinder testing allows
pre-defined fat content targets to be met more closely for improved profit and
Poultry company completes next step in rebranding campaign
Qatar favors Portugal as source for meat and poultry because of meat quality and halal practices during processing
Part of Consumer Trust and Poultry webcast sponsosred by Zoetis Global Poultry.
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