• by Teresa Buyikian , August 4, 2023

Earlier this week Yum Brands, Inc. reported the results for its Q2 2023, with KFC seeing the highest increase in sales over the same time period last year.

For Yum overall, worldwide system sales grew 13%, with 9% same-store sales growth and a 6% per unit growth.  Total revenues increased 3% year-over-year to $1.68 billion.

Per brand, the results show KFC leading, with KFC system sales up 19%, same-store sales up 13%, and revenue at $682 million. For Taco Bell, system sales were up 7%, with same-store sales up 4% and revenue at $621 million. Pizza Hut saw system sales up 7% and same-store sales up 4%, with revenue at $242M. Habit Burger Grill had system sales up 9%, same-store sales flat, with revenue at $142 million.

Yum added 1,025 gross new units in the quarter. The parent company hit a new high for digital sales at $7 billion.

Yum Chief Executive Officer David Gibbs said on a post earning call that KFC saw the most growth with its lower-income consumers, with its offerings also appealing to new younger customers. Success was also fueled by product innovation such as the new Chicken Nuggets and value strategy.

KFC is also riding the massive popularity of chicken QSRs, with more than 600 new locations in 60 countries in Q2 2023.

Additionally, the report detailed Yum Brands’ exit from the Russian market. Yum sold off its KFC business in Russia to Smart Service Ltd., including all Russian KFC restaurants, operating systems, master franchise rights and the trademark for the Rostik's brand.