Pizza Hut has a problem
Pizza Hut has a problem and hopes to reverse falling sales by getting more people to buy its cheesy pies online.
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But Yum Brands (NYSE:YUM), the owner of the pizza chain, warned Thursday that even though it hired more delivery drivers and spent millions to improve its technology, any transformation at Pizza Hut won't happen overnight.
Shares of Yum Brands Inc. slipped during Thursday's trading session.
Sales dropped 1 percent at established Pizza Hut locations in the second quarter from the year before. By trying to boost online orders, Pizza Hut hopes to catch up with its more tech-savvy rivals. Domino's Pizza Inc.(NYSE:DPZ) which allows customers to order pizza online, on apps and through social media, said last week that sales at established restaurants rose for the 25th-straight quarter.
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