Word: tricon
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Dates: during 1998-1998
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...wife and three children live in a brick-and-stone mansion set on nearly 16 landscaped acres in suburban Louisville, Ky. One neighbor Schnatter probably doesn't call on: David Novak, the former boss of Pizza Hut and current president and vice chairman of Pizza Hut parent Tricon Global Restaurants, who lives not far away...
...pressure from Papa John's, Pizza Hut spent $50 million last year to roll out what it called Totally New Pizzas, featuring thicker tomato sauce, fresh sliced vegetables and meatier toppings. Meanwhile, Pizza Hut has closed 250 stores since PepsiCo spun it and siblings Taco Bell and KFC into Tricon last year. The new strategy pushed Pizza Hut's same-store sales up a strong 9% in the second quarter, although the company said last week the pace slowed to 4% in the third quarter. "Pizza Hut has generated very strong results since the spin-off," says Speiser. Nonetheless...