Yum Brands Inc., the parent company of KFC, Taco Bell and Pizza Hut, said on Tuesday it is conducting a strategic review of options for Pizza Hut, signalling a potential sale of the struggling pizza chain, AP reported.
The company’s chief executive, Chris Turner, said while Pizza Hut continues to perform well in several international markets, its overall performance has lagged, particularly in the United States, its largest revenue contributor.
“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,” Turner said in a statement.
Pizza Hut operations
Pizza Hut operates nearly 20,000 stores across more than 100 countries, with China being its second-largest market after the US. International sales rose 2% in the first nine months of 2025, but US sales, which account for roughly half of Pizza Hut’s total, fell 7% in the same period.
The brand’s sluggish performance in its home market is attributed to legacy dine-in outlets that have struggled to compete with delivery-focused rivals such as Domino’s and Papa John’s. Once known for its distinctive red-roof restaurants and family dining experience, Pizza Hut has found itself squeezed between fast-delivery competitors and emerging quick-service formats.
In 2020, one of Pizza Hut’s largest US franchisees filed for bankruptcy, shuttering 300 outlets. According to food service consultancy Technomic, Pizza Hut’s share of the US pizza market has dropped to 15.5%, from 19.4% in 2019.
From 1958…
Founded in 1958 in Wichita, Kansas, by brothers Dan and Frank Carney, Pizza Hut rose to become the world’s leading pizza chain by 1971. PepsiCo acquired the company in 1977 before spinning off its restaurant division as Yum Brands in 1997.
Today, Domino’s leads the global pizza industry with 21,750 stores worldwide.
Yum Brands’ shares rose nearly 7% in early trading on Tuesday after the company reported an 8% rise in third-quarter revenue, led by strong performances at KFC and Taco Bell.
The review process for Pizza Hut has no set deadline, and Yum said it will refrain from making further comments until it is completed. The development comes a day after another 1950s-era American dining chain, Denny’s, announced plans to go private in a deal with an investor consortium.