Taco Bell Posts 11% Profit Hike
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Continuing its soaring financial performance, Taco Bell Inc. saw its second-quarter operating profits increase 11% to $47.3 million.
That is an increase over the $42.5 million in profits that the Pepsico-owned chain posted for the second quarter last year. Sales were $552 million for the quarter ended June 13, up 17% over the $471.4 million recorded in the same quarter last year.
The Irvine-based subsidiary said that its operating margins were thinner for the quarter because of the introduction of a steak burrito, which costs more to make, and because it is investing in new ideas that aren’t yet making much money.
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