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Daily Sound Bite: Yum Underestimates Chinese Chicken Concerns

Wed, 02/06/2013 - 12:24pm

Yum Brands expects to lose 25 cents per share at the close of it's first fiscal quarter. The decline is driven by a sharp drop in sales in China, after concerns about the quality of chicken supplied to KFC, a Yum subsidiary. Yum CEO David Novak said,

"The onslaught of negative media coverage has been longer lasting and more impactful than we expected."

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