Yum! Brands, Inc. (NYSE:YUM) Q1 2024 Earnings Call Transcript

Our development machine, we actually just put up the second highest quarter for gross development in Yum!’s history, obviously on track to meet or exceed that 5% development target. And then very exciting, the digital inflection point. Passing 50% digital is something I don’t think people thought was possible just a few years ago this quickly. It’s a real testament to the quality of the teams that we put together. And as you can see from our prepared remarks, we are not at all resting on that as a key accomplishment as we lean in on things like AI and the use of our data to separate ourselves from the rest of the industry. I will leave you with one final fact which I heard just the other day which really goes to the core of what we are and the strength of our business.

Since January of 2021, 25% of all the Yum! units in the world have been built. That’s how new our asset base is. That’s how fast we are developing. Think about the impact that, that has on the consumer in terms of how fresh and modern our brands are. Since January ‘21, 25% of our store base has been built. We don’t see that slowing down at any time soon. And in a choppy environment this year, we are very confident that we can get through it, strengthen our business and come out of it delivering that 8% core operating profit growth. Thank you for your time today.

Operator: Thank you. This now concludes today’s call. Thank you all for joining. You may now disconnect your lines.