Yum! Brands is exploring a possible sale of its Pizza Hut chain, as the business struggles to compete with rivals in the pizza business to win over cash-strapped consumers.
Pizza Hut has reported several quarters of declining same-store sales in the US - a market that makes up 42% of its global sales. The US woes have dragged down the business, even as sales rise in some other markets.
"Pizza Hut's performance indicates the need to take additional action to help the brand realise its full value, which may be better executed outside of Yum! Brands," chief executive Chris Turner said in a statement on Tuesday.
He added "strategic options" were being examined for its pizza division.
Pizza Hut, which saw sales at its existing outlets fall 1% overall in the most recent quarter, has lagged behind other big names in the Yum! portfolio. Notably, KFC and Taco Bell, which is known for its low-price meals, have both shown signs of strength.
