Pizza Hut 2011 Annual Report Download - page 9

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On the new initiative front, Taco Bell just launched breakfast in 800 restaurants on the West Coast with
its “First Meal” strategy. Taco Bell built an incredible late night business by gradually staying open longer
and longer. We’re taking that same strategy and applying it to breakfast. We’ll be opening for breakfast
about 9:00 a.m., and gradually moving that earlier as we gain traction. We also reinvented the taco when
we launched the Doritos® Locos Taco in March 2012, which is a taco made from Frito-Lay’s enormously
popular Nacho Cheese Doritos®.
Pizza Hut was our best U.S. performer delivering a solid year in 2011 on the heels of a great year in 2010.
The combination of everyday value, innovative new products and unique bundles has performed well and
we’ll continue to leverage these strategies going forward.
In the U.S., I’m pleased KFC has formed a united front with its franchisees, investing in operations and
galvanized around improving its operating consistency and becoming more contemporary and relevant.
With all this in place, we expect profit growth from our U.S. business this year, and more consistent
performance going forward.
DORITOS, NACHO CHEESE DORITOS and LOCOS TACOS are owned by their respective trademark owners and used under license.
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