KFC owner Yum Brands Inc. beat Wall Street estimates for quarterly revenue and profit on Thursday, as steady demand for its fried chicken and tacos cushioned the blow from a slowdown in sales in its Pizza Hut chain. Rival fast-food chains Chipotle Mexican Grill and McDonald’s have also delivered a strong beat in the quarter, aided by the reopening of seating areas in their restaurants and product price hikes. However, Yum Brands’ Pizza Hut division saw its U.S. system-wide sales drop 2 percent in the quarter, as pizza chains grapple with a slowdown in delivery demand following a surge during last year’s lockdowns. Earlier this month, rival Domino’s Pizza Inc. posted its first drop in U.S. same-store sales in over a decade as it also faced a tight labor market that created a shortage of drivers. Comparable sales for Yum Brands jumped 5 percent in the third quarter ended Sept. …
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