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Top related persons:
Maxim - 1 Sergei Levin - 1 Levin - 1 McDonald's - 1 It's - 1 Konstantin Kotov - 1 Andrey Oskolkov - 1 Elena Fabrichnaya - 1
Top related locs:
Russia Moscow Ukraine MOSCOW U.S Unirest KFC's U.S Ukraine Russian
Top related orgs:
Brands Inc - 1 KFC - 1 REUTERS - 1 U.S . Office - 1 Foreign Assets Control - 1 Brands - 1 Treasury - 1 Smart Service - 1

Search resuls for: "Russian KFC"


3 mentions found


☆ US sanctions authority delayed KFC's Russia exit -franchise owner
  + stars: | 2023-09-25 | by ( Elena Fabrichnaya | ) www.reuters.com   time to read: +3 min
It's OFAC office issued compliance guidance to the industry regarding the exit tax in the form of FAQs, or frequently asked questions, on Feb. 24, 2023, while negotiations on KFC's exit deal were still ongoing. The deal included all its Russian KFC restaurants, operating system and the trademark for the Rostic's brand. Once the buyers were approved, taking this new requirement into account, another one appeared - the budget contribution termed an "exit tax" by Washington - Levin said. "The closure was delayed again, the correct procedure on paying the exit tax was agreed," Levin said. Former KFC restaurants began opening in April as Rostic's, reviving a brand born soon after the collapse of the Soviet Union.
Persons: Maxim, Sergei Levin, Levin, McDonald's, It's, Konstantin Kotov, Andrey Oskolkov, Elena Fabrichnaya, Alexander Marrow, Matt Scuffham, Timothy Gardner Organizations: Brands Inc, KFC, REUTERS, U.S . Office, Foreign Assets Control, Brands, Treasury, Smart Service, Russian KFC, Washington, Soviet Union, Rostic's, Thomson Locations: Russia, Moscow, Ukraine MOSCOW, U.S, Unirest, KFC's U.S, Ukraine, Russian, Soviet
☆ Strong dollar weighs on Yum Brands even as sales rise at KFC and Taco Bell
  + stars: | 2022-11-02 | by ( Amelia Lucas | ) www.cnbc.com   time to read: +2 min
Revenue came in above expectations, however, as same-store sales rose at its KFC, Pizza Hut and Taco Bell chains. KFC reported same-store sales growth of 7%, beating Wall Street's estimates of 2%. Taco Bell's same-store sales rose 6% in the quarter, falling short of expectations of 7.5%. In the U.S., same-store sales rose 7%. Pizza Hut reported same-store sales growth of 1%, beating Wall Street's projections that its same-store sales would decline.
☆ Yum Brands to fully exit Russia with deal to sell KFC stores
  + stars: | 2022-10-24 | by ( Hilary Russ | Tatiana Bautzer | ) www.reuters.com   time to read: +1 min
NEW YORK, Oct 24 (Reuters) - Yum Brands Inc (YUM.N) on Monday said that it reached a deal to sell its KFC restaurants in Russia to a local operator there, paving a path to fully exit the country. The restaurant operator, which also owns the Taco Bell and Pizza Hut brands, will transfer ownership of its Russian KFC locations, operating system and master franchise rights to Smart Service Ltd, which is run by existing Russian KFC franchisees Konstantin Yurievich Kotov and Andrey Eduardovich Oskolkov, Yum said in a press release. Once it is completed, Yum "will have ceased its corporate presence in Russia," the company said. In July, Yum said it transferred ownership of its Pizza Hut assets to a local Russian operator. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Hilary Russ; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.
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