Yum Brands set to feel the pinch as sales decline

Underwhelming results in China have prompted fast food operator Yum Brands Inc to slash its annual growth forecast from 10 percent to low single-digit negative.

The owner of KFC, Pizza Hut and Taco Bell chains said it expected same-store sales for the fourth quarter to range from zero percent to 4 percent, with positive same-store sales growth at KFC and negative same-store sales at Pizza Hut Casual Dining

For the full year, same-store sales in China are expected to be low single-digit negative, with operating profit likely to remain flat, excluding the impact of foreign exchange, the company said in a statement.