Pizza Hut is closing hundreds of ‘underperforming’ locations

NEW YORK (CNN) — Pizza Hut is closing hundreds of locations across the United States while its parent company continues a strategic review of the embattled brand.

Yum! Brands, which also owns Taco Bell and KFC, revealed in Wednesday’s earnings call that 250 “underperforming” Pizza Huts are closing in the first half of this year, which amounts to roughly 3% of its US footprint.

A specific list of locations wasn’t released.

The company announced in November it had launched a “formal review of strategic options” for Pizza Hut, including a possible sale. No further additional information was released Wednesday other than that Yum! expects the review to be completed this year.

Pizza Hut has consistently struggled in a tough pizza landscape, especially against chief rival Domino’s Pizza.

For Pizza Hut, it was another dismal quarter, with another decline in same-store sales for its US locations, dropping 3%. The chain’s attempt to focus on value, namely a new $5 pizza, hasn’t resonated.

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