Taco Bell's parent company is ramping up its implementation of drive-thru AI at the chain.Yum! Brands said Wednesday that hundreds of Taco Bells are set to have voice AI by the end of 2024.Other fast-food chains have been experimenting with automation and AI in recent years. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. Em ...

Group 1: Taco Bell's AI Integration - Taco Bell will implement AI voice technology in hundreds of its drive-thrus by the end of the year, currently in over 100 locations across 13 states [1] - The integration aims to enhance operations for team members and improve the customer ordering experience, with benefits including reduced wait times and increased order accuracy [1] - Yum! Brands has increased its investment in digital technology and innovation to $21 million in 2023, up from $11 million in the previous year [3] Group 2: Industry Trends and Challenges - Other fast-food chains like Checkers & Rally's, Hardee's, Carl's Jr., and Wendy's are also testing or implementing similar AI technology in their drive-thrus [3] - The fast-food industry is facing labor shortages, with restaurant employment growing by less than 1% despite high demand, pushing reliance on technology and automation [3] - McDonald's recently ended its partnership with IBM for an AI-powered drive-thru system, indicating challenges in implementing such technology amid industry-wide labor issues [2]

Core Insights - Yum Brands is expanding its use of artificial intelligence (AI) for drive-thru orders at Taco Bell, aiming for implementation in hundreds of locations by the end of the year [1] - The company is joining competitors like Wendy's and White Castle in adopting voice AI technology, with its plans being the most ambitious among them [1] - Previous trials by other companies, such as McDonald's, have faced challenges, leading to a shift in strategy [1] Group 1: Implementation and Expansion - Yum has rapidly progressed with its voice AI pilot, increasing from five to 30 locations in California, with over 100 Taco Bell restaurants currently utilizing the technology [2] - Taco Bell operates nearly 7,700 locations in the U.S. as of the end of 2023 [2] - The technology has reportedly improved order accuracy, reduced wait times, and decreased employee workload, contributing to profitable growth [2] Group 2: Future Outlook - Yum's Chief Innovation Officer expressed confidence in the effectiveness of the voice AI technology after over two years of testing [2] - Additionally, five KFC restaurants in Australia are also testing voice AI in their drive-thrus [2] - Yum is expected to report its second-quarter earnings soon, which may provide further insights into the impact of these technological advancements [3]

Company Overview - Yum Brands, the parent company of KFC, Taco Bell, and Pizza Hut, is expected to report quarterly earnings of $1.32 per share, reflecting a year-over-year decline of 6.4% [2] - Revenues are anticipated to reach $1.8 billion, which represents a 6.5% increase from the same quarter last year [2] Earnings Estimates and Revisions - The consensus EPS estimate has been revised down by 0.64% over the last 30 days, indicating a reassessment by analysts [3] - The Most Accurate Estimate for Yum is higher than the Zacks Consensus Estimate, resulting in a positive Earnings ESP of +1.33% [6] Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that a positive Earnings ESP is a strong predictor of an earnings beat, especially when combined with a Zacks Rank of 1, 2, or 3 [5] - Yum currently holds a Zacks Rank of 3, indicating a hold rating, which suggests a moderate outlook for the upcoming earnings report [6][7] Historical Performance - In the last reported quarter, Yum was expected to post earnings of $1.20 per share but delivered only $1.15, resulting in a surprise of -4.17% [8] - Over the past four quarters, Yum has beaten consensus EPS estimates two times [8] Industry Context - In the Zacks Retail - Restaurants industry, El Pollo Loco Holdings is expected to report earnings of $0.21 per share, reflecting a year-over-year decline of 8.7% [10] - El Pollo Loco's revenue is projected to be $121.06 million, down 0.4% from the previous year, with an Earnings ESP of -3.23% [10]

Boston, MA, July 24, 2024 (GLOBE NEWSWIRE) -- Inner City Capital Connections (ICCC), ICIC's signature program for small business owners in the mid-stage of their growth, is thrilled to mark its fourth year in Canada, made possible by the generous support and partnership of the lead sponsor, Pizza Hut Canada, as part of YUM's Unlocking Opportunity Initiative. The program provides free education, mentorship, and grants to small business owners from underrepresented communities across Canada. At the heart of t ...

Core Insights - Pizza Hut has launched a new Chicago Tavern-Style Pizza and a significant toppings transformation, marking the largest menu overhaul in over a decade [1][2] - The new pizza style is inspired by the historical tavern-style pizza from Chicago, which features a thin, square-cut crust and is designed to be shareable [1][2] - The introduction includes eight new toppings and sauces, such as Spicy Marinara Sauce and Chicken Sausage, available as permanent menu items [2] Company Overview - Pizza Hut, a subsidiary of Yum! Brands, was founded in 1958 and has established itself as a leader in pizza innovation, with over 19,000 restaurants in more than 100 countries [4] - The company has a strong digital presence, with over half of its transactions coming from digital orders, and offers a loyalty program called Hut Rewards [4] Product Details - The new Chicago Tavern-Style Pizza is available in four recipes: Pesto Margherita, The Ultimate, Spicy Chicken Sausage, and Double Pepperoni, all featuring a Thin 'N Crispy crust [1][2] - The starting price for a large Chicago Tavern-Style Pizza is $12.00, with variations in pricing based on location [3]

Core Points - KFC is launching new Saucy Nuggets flavors for summer, including Honey BBQ, Korean BBQ, and Honey Sriracha, with a price of $5.99 for a 10-piece serving [1][2][3] - The company is extending its $10 Tuesdays promotion, offering an 8-piece bucket of chicken for $10, and introducing free delivery on Sundays throughout the summer [3][4][5] - KFC's "Taste of KFC" value menu features meals starting at under $5, including a $4.99 meal for one and a $20 family meal [4] Product Offerings - The new Honey BBQ sauce is described as sweet, smoky, and tangy, while Korean BBQ offers a sweet and savory umami flavor, and Honey Sriracha provides a sweet heat experience [2] - Saucy Nuggets are made from 100% white meat chicken, hand-breaded with KFC's Original Recipe of 11 herbs and spices [3] Promotions and Deals - The $10 Tuesdays deal allows customers to purchase an 8-piece bucket of chicken for $10, available only on Tuesdays [4][5] - Free delivery is offered on Sundays for orders placed through KFC's website and app, valid from June 2, 2024, to August 25, 2024 [5][6] - The KFC Rewards loyalty program allows customers to earn rewards on digital orders and unlock free items [5][6]

Yum! Brands, Inc. (YUM) is likely to benefit from digital efforts, strong Taco Bell performance and menu innovation. Also, the focus on expansion initiatives bodes well. However, dismal comps, the Middle East conflict and high costs are a concern.Let us discuss the factors that highlight why investors should retain the stock for now.Factors Driving GrowthYum! Brands implemented various digital features in mobile and online platforms across all brand segments to enhance the guest experience. The company is a ...

Executive Appointments - Kalen Thornton has been appointed as Global Chief Brand Officer of Pizza Hut, effective June 10, 2024, reporting to CEO Aaron Powell [2] - Melissa Friebe will become Chief Marketing Officer for Pizza Hut U.S., transitioning from Taco Bell, and will report to the new U.S. President, Carl Loredo [3][4] Responsibilities and Goals - Thornton will lead Pizza Hut's global brand strategy across 110 markets, focusing on enhancing customer connections through both physical and digital channels [2] - Friebe will oversee all marketing aspects for Pizza Hut's U.S. operations, succeeding Lindsay Morgan, who has held various marketing leadership roles for over eight years [3][4] Background of New Appointees - Thornton previously served as Vice President of Sports and Entertainment Marketing for PepsiCo North America and has held significant roles at Nike and Jordan brands, emphasizing his experience in building global brands [3] - Friebe has nearly three decades of experience at Taco Bell, most recently as Chief Brand Strategy Officer, bringing extensive marketing expertise to her new role [3] Company Overview - Pizza Hut, a subsidiary of Yum! Brands, operates over 19,500 restaurants in 110 markets and territories, known for innovations like Original Pan and Stuffed Crust pizzas [5] - The company has a strong digital presence, with over half of its transactions coming from digital orders, and offers a loyalty program called Hut Rewards [5]

Pizza Hut, a reportable brand of Yum! Brands, Inc. (YUM) , announced its new take on menu offerings by introducing the Cheeseburger Melt.The management highlights the innovation behind the Cheeseburger Melt, which combines the elements of a cheeseburger into Pizza Hut's signature crust to create a unique and irresistible dining experience.The new Cheeseburger Melt comes with a Burger Sauce and features beef, applewood-smoked bacon, onions, mozzarella and cheddar. The folded parmesan-crusted thin crust Melt ...