Pizza Hut 2014 Annual Report Download - page 9

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PIZZA HUT DIVISION
Our global Pizza Hut division capped a year of record-
level international development, opening 465 new
international units. We expect to improve on this number
in 2015. Our focused brand structure is clearly paying
dividends with Pizza Hut development. However, Pizza
Hut is more than a new-unit story. In December, we
launched our new menu in the U.S. driven by the Flavor
of Now positioning. I absolutely believe we have the right
product and brand positioning.
However, sales were softer than we expected with our
initial launch. This is a long-term strategic initiative and
we are excited by the fact that people who tried our
new pizzas love them—repurchase intent is greater than
90%. We are working to drive more customer trial as
our advertising campaign evolves to drive sales through
sharper product and price oers. I know new Pizza Hut
CEO David Gibbs and his team are focused on getting the
advertising and pricing right to ensure that their brand-
building eorts are a success. We have a long runway
ahead of us and are making the decisions necessary to
drive future growth in the U.S. and globally.
Opened
465
International
Units in 2014
PH consumer
photo
Pizza Hut is a new reporting division and includes all Pizza Hut results
outside of the China and India divisions.
Panama
U.S.
7