Pizza Hut’s Parent Company Considers Selling the Chain
Pizza Hut might soon be put up for sale as its parent company, Yum Brands, announced a formal review of strategic options for the brand. Despite facing challenges in a competitive pizza market, Pizza Hut retains significant strengths.
Brand Strengths and Market Presence
According to Yum CEO Chris Turner, Pizza Hut boasts a strong global footprint and continues to grow in several markets. The chain operates nearly 20,000 stores across more than 100 countries, with international sales increasing by 2% in the first nine months of this year.
China ranks as Pizza Hut's second-largest market outside of the United States.
Challenges in the U.S. Market
- Approximately 6,500 stores are located in the U.S., where Pizza Hut generates nearly half of its revenue.
- U.S. sales declined by 7% during the same period, highlighting struggles in its home market.
Pizza Hut historically operated large, dated dine-in restaurants while consumer preferences shifted toward fast pickup and delivery options. In 2020, one of its major franchisees filed for bankruptcy and shuttered 300 outlets.
Market analysis by Technomic shows Pizza Hut’s share of U.S. pizza chain sales dropped from 19.4% in 2019 to 15.5% currently.
"Pizza Hut has many strengths, including a global footprint and strong growth in many markets," said Yum CEO Chris Turner.
Summary
Pizza Hut's parent company is evaluating selling the brand amid declining U.S. sales, despite its strong global presence and growth in international markets.
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