Yum Brands Inc (YUM) Q4 2019 Earnings Call Transcript

Yum Brands Inc (YUM) Q4 2019 Earnings Call Transcript

I would now like to hand the conference over to Keith Siegner, Vice President, Investor Relations, M&A and Treasurer.. On our call today are David Gibbs, our CEO; Chris Turner, our Chief Financial Officer; and Dave Russell, our Senior Vice President and Corporate Controller.. Pizza Hut Division and Worldwide system sales include the benefit of the increase in units in the fourth quarter of 2018 related to our strategic alliance with Telepizza.. Same-store sales and net new unit growth reflects the inclusion of Telepizza in the prior year base.. Because of our journey to become more focused, franchised and efficient, we're now in a much stronger position to accelerate growth and improve franchise unit economics over the long-term.. In summary, our brand will focus on unlocking our potential with better experiences for our customer employees, which will ultimately lead to better franchise unit economics and better growth.. and our RED brand update, then Chris will share the details of our fourth quarter and 2019 results, 2020 guidance, as well as an update on bold restaurant development and unmatched franchise operating capability.. For Bold Restaurant Development, 2019 was a record-breaking year and I'd like to recognize the efforts of all involved