The Inflation Reduction Act of 2022 Will Not Help Restaurants

For two and a half years, the restaurant industry has taken blow after blow, knocking it down, but not out. Every month, increasingly powerful blows in the form of higher costs push more and more owners to consider closing their doors. For this reason, the National Restaurant Association cannot support the Inflation Reduction Act of 2022 in its current form.

Yum! Brands Reports Second-Quarter Results

Yum! Brands, Inc. (NYSE: YUM) today reported results for the second quarter ended June 30, 2022. Worldwide system sales excluding foreign currency translation grew 3%, with 4% unit growth and 1% same-store sales growth. Second quarter GAAP EPS was $0.77, a decrease of 40% year-over-year. Second quarter EPS excluding Special Items was $1.05, a decrease of 9% year-over-year.