Yum! Brands (YUM) shares rose in intraday trading Tuesday despite second-quarter sales and net income falling slightly short of estimates, as executives said the company is encouraged by the performance of Taco Bell as ♏consumers look to get value for their money.

The parent company of Taco Bell, Pizza Hut, and KFC reported higher revenue than the second quarter of 2023 at $1.76 billion, narrowly missing analysts' estimates compiled by Visible Alpha. 澳洲幸运5官方开奖结果体彩网:Net income also missed estimates at $367 million, but adjusted net income of $386 million came in above estimates after accounting for certain one-time costs.

T🧔aco Bell Drives Sales Growth Amid Fast-Food Value Push

澳洲幸运5官方开奖结果体彩网:Same-store sales rose 5% year-over-year at Taco Bell. However, lower sales at KFC and Pizza Hut dragged same-store sales down 1% for the overall company, similar to its 澳洲幸运5官方开奖结果体彩网:first-quarter performance.

澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) David Gibbs said in Tuesday's earnings call that the company feels good about Taco Bell's performance because of the chain's ability to be the "always-on-value brand" in a consumer environment "where the consumer is probably pulling back a little bit."

澳洲幸运5官方开奖结果体彩网:Value has been a key focus among other fast-food heavyweights like McDonald's (MCD) and Wendy's (WEN) in recent months, as the 澳洲幸运5官方开奖结果体彩网:companies have said many consumers, especially in lower൲ income brackets, have cut their discretionary spending over the last year. Gibbs said the company is "well-positioned to navigate these consumer headwinds" as brands like Taco Bell and KFC have "reputations for value no matter the environment."

Shares of Yum! Brands rose 3.6% to $138.05 as of 2:10 p.m. ET Tuesday, adding to a winn♊ing stretch that has seen the stock rise 10% over the last two weeks.