Taco Bell Reports Record Profit for 1st Quarter--$31.4 Million
- Share via
IRVINE — Riding a wave of expansion and a drop in the costs of its menu ingredients, Taco Bell Corp. this week reported a record first-quarter operating profit of $31.4 million, more than double the $15.1 million posted a year earlier.
Revenue for the Mexican-style fast food unit of PepsiCo jumped 14% to $405.5 million from $356.3 million for the first quarter of 1990.
Company officials said the huge rise in profits was the result of lower ingredient costs, the addition of 200 units to the chain and increased volume because of the expansion and because of a major sales promotion featuring the reduced-price menu.
Taco Bell’s quarterly results represented the strongest profit growth of any PepsiCo unit, the parent company said.
The company owns about 70% of Taco Bell’s 3,300 units worldwide.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
