Yum sales in China slide after Husi probe
By Bloomberg | China Daily | Updated: 2014-09-05 07:20
Yum Brands Inc, which gets about half of its revenue from China, said third-quarter same-store sales in the nation fell about 13 percent following a probe into one of its suppliers.
Sales at both its KFC and Pizza Hut locations in China were hurt by publicity after OSI Group LLC was investigated for changing sell-by dates on food, the Louisville, Kentucky-based Yum said in a filing with the US Securities and Exchange Commission.
Yum also said it's planning to take legal action against OSI and its Shanghai Husi unit to recover damages.
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