The Rising Influence of Rising Affluence

[DewDiligence]

YUM still taking write-downs wrt China:

http://www.wsj.com/articles/yum-swings-to-a-loss-on-china-results-1423086268

Yum Brands Inc. swung to a loss for the fourth quarter as it reported a double-digit sales decline in China and wrote down the value of one of its businesses there.

Greg Creed , chief executive of Yum—which operates the KFC, Pizza Hut, and Taco Bell fast-food chains—said the sales recovery in China has continued to be slower than expected, following Chinese media reports last summer indicating a restaurant supplier there had intentionally sold expired meat.

In the latest period, sales in China—which accounts for about half of Yum’s revenue—fell 11%, with sales at established stores down 16%.