Pizza Hut Is Having Some Problems in America
Pizza Hut, the country’s largest pizza chain, seems to be losing favor with American diners. The 56-year-old pizza restaurant’s same-store sales in the U.S. have fallen for seven consecutive quarters as competitors Domino’s (DPZ) and Papa John’s (PZZA) have seen sales increase.
“We’re obviously disappointed with second-quarter results and particularly with the very poor performance in our U.S. business,” David Novak, the chief executive of parent company Yum! Brands (YUM), said of Pizza Hut during an earnings call in July. “We’ve had our ebbs and flows vs. the competition over the years, and I can assure you we will be back,” Novak told investors.