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00:02Yum! Brands reported a steeper-than-expected decline in Taco Bell's quarterly same-store sales
00:08following a multi-state cyclosporiasis outbreak in the U.S., according to Reuters.
00:13Taco Bell's same-store sales fell 4% in the third quarter,
00:17compared with analysts' expectations of a 0.9% decline.
00:22Foot traffic dropped 20% at the outbreak's peak in early July, according to Placer.ai.
00:27Health authorities declared the outbreak over last month after 570 hospitalizations and two deaths.
00:35CEO Chris Turner said Taco Bell has outpaced the fast-food industry in same-store sales growth since late September.
00:42Yum! Brands' overall same-store sales were flat, missing expectations for a 0.9% increase.
00:49Operating profit rose to $2.32 billion, largely due to a $1.68 billion gain from the sale of Pizza
00:57Hut.
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