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Yum! Brands

Raising the B.A.R., From 2026

To build the world’s most loved, trusted and connected restaurant brands
Yum!’s aim

Raising the B.A.R.

Yum! Brands franchises or runs more than 44,000 restaurants in 151 countries and territories, under KFC, Taco Bell, and Habit Burger & Grill, after selling Pizza Hut in 2026. Its chief executive, Chris Turner, set out three priorities for 2026 onwards, to drive its next chapter of growth by Raising the B.A.R.

Battle for the future consumer

Stay relentlessly focused on what consumers need and want.

  1. 01KFCBring the core of KFC’s new strategy, a refreshed brand and a menu centred on boneless chicken, drinks, and sauces, to its top 20 markets by the end of 2027.
  2. 02Taco Bell in ChinaWork with Yum China to advance long-term growth plans for Taco Bell in mainland China.

30 July 2026KFC launched its refreshed brand identity and menu on 15 June 2026.

30 July 2026Taco Bell’s same-store sales grew 7% in the second quarter of 2026, after 7% in 2025.,

Yum! targets 5% more restaurants, 7% more system sales, and at least 8% more core operating profit each year

Yum! first set these targets in 2022, as averages over time. Without Pizza Hut, it met all three in the second quarter of 2026.,

Growth in 2025 is worldwide, with sales and profit excluding the extra week in 2024.

RestaurantsTarget 5%6%System salesTarget 7%7%Core operating profitTarget at least 8%8%

Each cup is marked from 0% at the bottom to 10% at the rim; the dashed line is the target.

Yum! sold Pizza Hut for $2.7 billion, to focus on KFC, Taco Bell, and Habit Burger & Grill

The sale, to LongRange Capital and Yum China, was completed on 1 September 2026. Yum! expects about $2.3 billion of net proceeds, and its board approved $4 billion more of share buybacks.,

63,285restaurants at the end of 2025

KFC 33,897Pizza Hut 19,974Taco Bell 9,030Habit Burger & Grill 384

One ticket to each 1,000 restaurants.

  1. Sell what no longer fits the plan.

    After a review, Yum! sold Pizza Hut for $2.7 billion, to focus on KFC and Taco Bell. We recommend asking of every part of the business whether it moves the plan forward, and being willing to sell what does not.

  2. Franchisees first.

    Almost all of Yum!’s restaurants are run by franchisees, so one of its three priorities is their restaurants’ economics. We recommend putting the people who run the front line in the plan itself, because growth depends on their wanting to open the next restaurant.

  3. Turn a shared system into a product.

    Yum! has made its ordering, kitchen, and delivery technology into one platform, Byte by Yum!, and will even keep providing it to Pizza Hut after the sale. We recommend treating systems many teams share as a product with its own goals, so that every brand benefits from each improvement.

Sources

  1. 1. Yum! Brands (2026). Annual report for the fiscal year ended December 31, 2025. Form 10-K, 20 February 2026. sec.gov
  2. 2. Yum! Brands (2026). Yum! Brands reports fourth-quarter results and increases dividend. Results release, 4 February 2026. sec.gov
  3. 3. Yum! Brands (2026). Yum! Brands, Inc. enters into agreements to sell Pizza Hut for $2.7 billion. Press release, 16 June 2026. sec.gov
  4. 4. Yum! Brands (2026). Yum! Brands reports second-quarter results. Results release, 30 July 2026. sec.gov
  5. 5. Yum! Brands (2026). Yum! Brands completes sale of Pizza Hut to LongRange Capital. Press release, 1 September 2026. sec.gov

Headwater is not connected with Yum! Brands, Inc. Yum!, KFC, Taco Bell, Habit Burger & Grill, and Pizza Hut are trade marks of their owners. Updated 5 October 2026.

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