Pizza Hut parent company Yum Brands is considering selling the chain as part of a review of strategic options, citing its struggles in the competitive pizza market.
The move comes as Pizza Hut faces challenges in the US, where sales fell 7% in the first nine months of this year. The brand relies heavily on domestic sales, with nearly half of its revenue coming from the country, but it is being squeezed by fast-casual competitors like Domino's and a shift towards delivery and carryout.
Despite efforts to revamp the business, including updating its dine-in restaurants, Pizza Hut's performance has been disappointing. The brand's market share in the US has declined, falling from 19.4% in 2019 to 15.5%, according to Technomic.
Yum Brands CEO Chris Turner said the company is taking a "thorough review of strategic options" and that it may be better off outside of Yum Brands for Pizza Hut's full value to be realized.
The news has sent shares of Yum Brands soaring, up nearly 7% in early trading Tuesday, as investors hope that a change in ownership could breathe new life into the struggling brand.
The move comes as Pizza Hut faces challenges in the US, where sales fell 7% in the first nine months of this year. The brand relies heavily on domestic sales, with nearly half of its revenue coming from the country, but it is being squeezed by fast-casual competitors like Domino's and a shift towards delivery and carryout.
Despite efforts to revamp the business, including updating its dine-in restaurants, Pizza Hut's performance has been disappointing. The brand's market share in the US has declined, falling from 19.4% in 2019 to 15.5%, according to Technomic.
Yum Brands CEO Chris Turner said the company is taking a "thorough review of strategic options" and that it may be better off outside of Yum Brands for Pizza Hut's full value to be realized.
The news has sent shares of Yum Brands soaring, up nearly 7% in early trading Tuesday, as investors hope that a change in ownership could breathe new life into the struggling brand.