Pizza Hut operator misses Q4 estimates

SAPPHIRE FOODS INDIA, a franchisee of US-based fast-food major Yum Brands, said Pizza Hut's recovery in India would take longer, after the company reported quarterly revenue slightly below estimates on Wednesday.

- REUTERS

Indian operators of US chains such as Pizza Hut, KFC, McDonald's and Burger King face a double blow, as they grapple not only with stiff competition from local rivals but also shrinking consumer spending due to high living costs and slow wage growth. Pizza Hut has been among the worst affected over the last two years, as overall dine-in demand remained under stress. The brand brings in more sales from dining rooms compa