Yum Brands is hoping a $130 million investment will bring struggling Pizza Hut a much-needed boost.
After yet another quarter of lackluster same-store sales in its pizza division, Yum CEO Greg Creed said Wednesday the company will be upgrading equipment, improving restaurant technology and boosting advertising through 2018.
During an earnings call, he said he was confident these actions would "unlock significant value for years to come."
Creed equated the Pizza Hut investment to the $180 million that Yum put into KFC in 2015. The chicken chain has since seen 11 quarters of same-store sales growth, he said.
"While we aren't going to get into specifics, the [investment] agreement [with franchisees] includes a permanent system commitment to digital initiative contributions,