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Yum China Sinks 11% On Earnings: Is Pizza Hut Choking?

Yum China's earnings results for the second quarter show its biggest restaurant concept, KFC, is doing well, but Pizza hut may need a major overhaul.

Yum China Holding (YUMC) shares were down nearly 12% before paring the loss to 11%, at $35.64, while Yum Brands (YUM) was down nearly 1% and the iShares MSCI China Large-Cap exchange-traded fund (FXI) was down 1%.

AB analysts Sara H. Senatore, Stephanie Ng and Anna Papp , who have a $39 price target on the shares, write that "expectations were high going into the quarter" and quarterly same-store sales growth of 3% was in line with the consensus among analysts. Earnings per...