Yum Brands CEO On Taco Bell's Strength, Future Of Its Restaurants

Yum! Brands, Inc. (NYSE: YUM) CEO David Gibbs appeared on CNBC and talked about running restaurants under COVID-19 and the future of its current restaurants.

Yum Brands reported quarterly earnings of $1.01 per share, which beat the analyst consensus estimate of 80 cents. The company reported quarterly sales of $1.45 billion, which beat the analyst consensus estimate of $1.42 billion.

Gibbs went on to talk about how Taco Bell’s strength is driven by its pivot to delivery. It seems consumers will be seeing more of a pivot to delivery from Yum Brands restaurants.

“We’ve been moving to more of an off-premise mode,” Gibbs said Thursday. He said new locations will be “smaller and more designated for delivery and pickup.”

In times of COVID-19, Gibbs assured customers that “getting food from our restaurants is a safe, affordable, convenient solution for consumers.” He also mentioned he isn’t concerned about the France lockdown.

The stock was down 1% at publication time.