Taco Bell Sales Take A Hit

It's Benzinga, bringing Wall Street to Main Street. Yum! Brands reported a steeper-than-expected decline in Taco Bell's quarterly same-store sales following a multi-state cyclosporiasis outbreak in the U.S., according to Reuters. Taco Bell's same-store sales fell 4% in the third quarter, compared with analysts' expectations of a 0.9% decline. Foot traffic dropped 20% at the outbreak's peak in early July, according to Placer.ai. Health authorities declared the outbreak over last month after 570 hospitalizations and two deaths. CEO Chris Turner said Taco Bell has outpaced the fast food industry in same-store sales growth since late September. Yum! Brand's overall same-store sales were flat, missing expectations for a 0.9% increase. Operating profit rose to $2.32 billion, largely due to a $1.68 billion gain from the sale of Pizza Hut. For all things money, visit Benzinga.com.