Pizza Hut’s Parent Company Considers Selling the Chain
Yum Brands, the parent company of Pizza Hut, announced on Tuesday that it is conducting a formal review of strategic options for the pizza chain, which has faced rising competition in an increasingly crowded market.
“Pizza Hut has many strengths, including a global footprint and strong growth in many markets,” said Yum CEO Chris Turner.
Pizza Hut operates nearly 20,000 restaurants across more than 100 countries. International sales increased by 2% in the first nine months of this year, with China standing as its second-largest market after the United States.
However, the company still relies heavily on its U.S. operations, which account for almost half of total sales. Pizza Hut runs approximately 6,500 stores in the U.S., where sales declined by 7% during the same period. The brand has struggled to adapt from traditional dine-in restaurants to faster, delivery-focused models preferred by modern customers.
In 2020, one of Pizza Hut’s largest franchisees filed for bankruptcy protection, resulting in the closure of about 300 stores. According to data from food service consulting firm Technomic, Pizza Hut’s share of U.S. pizza chain sales has dropped from 19.4% in 2019 to 15.5% this year.
Author’s summary: Yum Brands is reviewing options for Pizza Hut as changing consumer habits and U.S. sales declines challenge the chain’s long-term strategy.
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