Yum Brands may not have gotten all it envisioned out of its 2018 delivery deal with Grubhub, but at least it got $8 million. The operator of KFC, Pizza Hut, Taco Bell and Habit on Thursday noted that it sold the shares of Grubhub it purchased in 2018 for $206 million, and that it recorded …
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…Yum’s investment in Grubhub lifted earnings per share by 2 cents this quarter due to changes in its fair value. The KFC owner, which had disputed the terms of the agreement with Grubhub this summer, also said it sold its 3% stake for $206 million. The investment gave Yum a seat on Grubhub’s board, giving it a front seat …
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DoorDash becomes the chicken chain’s largest delivery provider after an exclusive deal with Grubhub fell apart. KFC is expanding its off-premise offering by partnering with DoorDash at nearly 3,000 locations, the companies announced Monday. DoorDash will become the chicken chain’s largest delivery provider, covering about 75% of its U.S. stores. The news follows the end of …
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NEW YORK (Reuters) – Taco Bell parent Yum Brands Inc (YUM.N) sued Grubhub Inc (GRUB.N) on Thursday for allegedly violating a delivery contract, a day after Europe’s Just Eat Takeaway.com (TKWY.AS) agreed to buy the U.S. food delivery company for $7.3 billion. Yum invested about $200 million in Grubhub in 2018 and struck a partnership …
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Yum Brands is suing Grubhub, alleging it violated the distribution agreement struck in 2018. Grubhub moved to impose new fees on KFC and Taco Bell franchisees after telling Yum that the restaurant company had breached the contract, the lawsuit claims. The lawsuit also claims that Grubhub showed signs that it regretted the contract it struck with …
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Grubhub‘s (NYSE:GRUB) stock popped on Jan. 8 after The Wall Street Journal claimed that the food delivery company was mulling a potential sale. However, most of those gains faded the following day after Grubhub denied the rumors. Grubhub stated that it “unequivocally” isn’t running a sale process and that there were “currently no plans to do so.” But this isn’t the …
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Taco Bell wants to put its chalupas and double decker tacos in as many hands as possible, and Grubhub is happy to assist. Yum Brands CEO Greg Creed told investors on the company’s first-quarter earnings call on Wednesday that, following Taco Bell’s nationwide rollout of delivery through Grubhub in February, the chain is in the process …
Pizza Hut’s growth strategy reflects what pizza fans have known for decades: Delivery works. Yum Brands CEO Greg Creed re-explained this strategy on the company’s first-quarter earnings call Wednesday, as Pizza Hut’s struggling dine-in business continues to weigh it down. Dine-in sales lag behind off-premise sales line growth by 7 percentage points, according to the company. …
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KFC and Taco Bell have again propped up parent Yum! Brands Inc., whose total sales topped estimates last quarter, but the company’s Pizza Hut chain is another story. The shares fell the most in almost three months. The rut in its pizza business is showing no signs of abating, even in the U.S. where Yum …
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Grubhub has big plans for its enterprise restaurant business in 2019. The company cited its Yum Brands partnership as the model by which it wants to pair up with many other restaurant chains in the future, according to plans outlined during its fourth quarter earnings call on Thursday. Yum poured $200 million into Grubhub back in …
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