Yum Brands is evaluating strategic options for its Pizza Hut business, including the potential sale of all or parts of the brand.
According to the Wall Street Journal, the company said it has invested heavily in trying to turn the chain around, but believes Pizza Hut might need more resources outside Yum to grow.
Pizza Hut is the second-largest pizza chain in the U.S., with $5.6 billion in domestic sales across roughly 6,560 stores last year, according to Technomic.
Globally, the brand operates around 20,000 locations. Despite its size, Same-store sales in the U.S. have fallen for seven straight quarters as of last summer. Sales dipped another 5 percent in the quarter ending June 30.
Domino’s reported a 6 percent increase in quarterly sales in the same period, attributing gains to promotions and deals. Pizza Hut has attempted to spark growth by launching new products like Detroit-style pizza in 2021 and pizza melts in 2022. The company has also cycled through several leadership changes at the brand.
Reddit co-founder jokes about buying brand
Reddit co-founder Alexis Ohanian responded to the news on X, hinting at interest in buying Pizza Hut and joking about making an offer.
“As a former Pizza Hut cook, I have the opportunity to do the funniest thing ever,” he said.
Fans of Alexis quickly flocked to the comments to share their thoughts on the idea, with almost all of them sharing the same idea: they want him to turn Pizza Hut back to its “retro style” with red cups and pizza buffet.
“First order of business: make all Pizza Hut’s retro style’ again. Red cups and ashtrays ftw,” one user commented.
Another said: “You must include the s-tier salad bar.”
It’s hard to say whether or not Alexis will buy the brand, however, because it requires its parent company to decide whether or not it’s even for sale.
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