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Pizza Hut to close hundreds of dine-in stores

The pizza chain will instead focus on express stores for take-out and deliveries.

Pizza Hut is planning to close up to 500 locations over the next 24 months. 

On Yum!'s 2019 Q2 earnings call, Yum! CEO Greg Creed said the closures will target under performing dine-in restaurants and focus on deliveries. Yum! is Pizza Hut's parent company.

"Ultimately we know that the economics of building a modern delivery asset work quite well for us," Creed said. "Any area where a store closes, there should be the opportunity to rebuild the store in that area or somewhere nearby."

The closures will target under performing dine-in restaurants and with plans to replace them with express stores focused on take-out and deliveries. 

"Pizza Hut continues to develop tailored action plans for our largest dine-in markets, while at the same time, transforming the estate for a more compelling off-premise focused asset strategy," Creed said. 

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Pizza Hut currently operates roughly 7,450 locations including 6,100 dine-in restaurants and 1,350 express stores.

The focus on delivery will also be a priority for other Yum! brands including KFC who is working with GrubHub to add locations for delivery. 

Credit: AP
This Tuesday, Jan. 24, 2017, photo shows a Pizza Hut in Miami. Yum Brands, Inc., which operates Taco Bell, KFC and Pizza Hut, reports earnings, Thursday, Nov. 2, 2017. (AP Photo/Alan Diaz)

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