August 2019

Pizza Hut to Close 500 Dine-in Locations

Yum! Brands president David W. Gibbs made the announcement during an earnings call to discuss second-quarter results on August 1.According to Gibbs, the chain will focus on its delivery and carryout options.We are leaning in to accelerate the transition of our Pizza Hut U.S. asset base to truly modern delivery/carryout assets…This will ultimately strengthen the Pizza Hut business in the U.S.and set it up for a faster long-term growth, David W. Gibbs, via ‘Food Business News’.In the United States, there are approximately 6,100 dine-in restaurants and 1,350 express units. .The number of total U.S. stores is expected to drop to as low as 7,000 in the next 24 months.“Under performing” dine-ins with “lower volume”are the most likely to face closure and later be restructured to fit the delivery/carryout model.It’s hard to estimate how soon the timing of when a store will close and then when the replaced unit will open…There will be gaps on some of those, but certainly, our goal is to try to minimize those gaps, David W. Gibbs, via ‘Food Business News’.