Franchise News
Pizza Hut Closing Hundreds of Underperforming Stores in Favor of Modern Express Model
The change is slated to roll out gradually over the next two years, decreasing domestic locations by an estimated 500 stores.
Domestic Pizza Hut stores are about to go under a major overhaul in the next two years, according to Nation’s Restaurant News. In 2018, Pizza Hut ended the fiscal year with 7,482 stores. The count could go as low as 7,000 as the brand restructures their dine-in restaurants in favor of express stores devoted to delivery and carryout.
David W. Gibbs, president and chief operating and financial officer of Pizza Hut said in a statement, “We are leaning in to accelerate the transition of our Pizza Hut U.S. asset base to truly modern delivery carryout assets. This will ultimately strengthen the Pizza Hut business in the U.S. and set it up for faster long-term growth.”
The brand intends to continue with franchisees who are “capable, well-capitalized, committed to the brand, and have a growth mind-set,” according to Yum CEO Greg Creed.
Read the full story here.
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