On Thursday, Yum Brands reported for the first time since it announced plans to spin off its massive Chinese business. And while Jim Cramer found the results somewhat mixed, he did start to see some signs of life from the company.
More importantly, Yum confirmed it has finally seen positive same-store sales in China, which is currently Yum’s largest market.
Cramer spoke with Greg Creed, CEO of Yum Brands, to find out more about the quarter and where the company could be headed.
“I think what we have created is two powerful, independent, focused growth companies. On the one hand, Yum Brands will be a global franchisor of three iconic brands,” Creed said. “And then, with Yum China, we will obviously have access to the fastest growing economy in the world.”
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The CEO commented on the success of Taco Bell in the United States, saying, “We don’t do any marketing at Taco Bell, what we do is storytelling. We’re like publishers.”
As the parent company of KFC, Pizza Hut and Taco Bell, Yum Brands announced a secret new menu item will be revealed during the Super Bowl. When Cramer asked the CEO to give a hint about the secret menu item, Creed stayed mum but moved his hands in an arc gesture to show the round shape of the new menu item.
“10,000 people have pre-ordered a product that they don’t even know what it is,” Creed said.