Business is booming at Yum! Brands, Inc’s (NYSE:YUM) Taco Bell. The purveyor of Mexican-themed fare has jumped past a fellow fast food giant to take down the number four spot on the U.S. sales list.
Bloomberg has the details on Taco Bell’s ascent up the charts.
Lovers of chalupas and crunch wraps have spoken: Taco Bell is now bigger than Burger King.
The Mexican-themed chain eclipsed its burger rival in U.S. sales last year, becoming the fourth-largest domestic restaurant brand, according to a preliminary report by research firm Technomic. McDonald’s Corp., Starbucks Corp. and Subway Restaurants held on to the top three spots.
For 2017, systemwide sales at Taco Bell surged five percent to $9.8 billion. Taco Bell has gained traction off of the strength of its $1 menu, as well as the marketing push that surrounded off-the-wall items such as fried chicken taco shells.
Burger King’s domestic sales rose just 1.5 percent in 2017, and Technomic’s David Henkes notes that the company is facing stiff competition from a “resurgent McDonald’s.”
Yum! Brands, Inc. shares were trading at $78.49 per share on Thursday morning, up $0.68 (+0.87%). Year-to-date, YUM has declined -3.38%, versus a 1.90% rise in the benchmark S&P 500 index during the same period.