Taco Bell Hits the $1 Billion Sales Mark With Doritos Locos Tacos
The union of Yum Brands' Taco Bell and Frito-Lays' Doritos has proven quite successful.
A fast-food marriage made in heaven, or yet another sign of the apocalypse? Either way, Taco Bell recently reached a remarkable milestone, with sales for its Doritos Locos Tacos – which was launched in March of 2012 – passing the $1 billion mark.
Taco Bell, owned by Louisville, Kentucky-based Yum Brands (NYSE:YUM) partnered with Doritos, which is owned by Frito-Lay, a division of PepsiCo (NYSE:PEP), to come up with a meat-filled taco wrapped in a Doritos nacho cheese shell, complete with the snack food's trademark, get-into-everything, orange-tinted powered cheese.
"It has been the biggest launch in Taco Bell history," Greg Creed, company CEO, told the Daily Beast this past March. "Last year, we added 15,000 people to handle the growth."
The insanely popular item uses Doritos packaging when served, and is part of Taco Bell's successful "Fourth Meal" ad campaign – geared at hungry snackers (or, as the Huffington Post snarked, young stoners with the late-night munchies) out on the town.
Even the venerable New York Times has taken notice of the Doritos Locos phenomenon – with a video graphic explaining how the snack has been scientifically engineered to "target taste buds" and make the consumer not only enjoy the eating experience but crave more after they're done. "What these are trying to do is excite every stinking taste bud receptor you have in your mouth," food scientist Steven A. Witherly told the Times.
Taco Bell's triumph is certainly welcome news for Yum Brands – which earlier this month reported a disappointing third-quarter performance. In a press statement, Yum Chairman and CEO David C. Novak pointed to a "slower-than-expected" recovery at the corporation's crucial KFC operations in China – which have been hit hard by a sales drop following both concerns over bird flu spreading in Asia and reports that some of KFC's Chinese suppliers had chemical residues in their chickens.
And in that same statement Novak pointed out with pride that Taco Bell has "produced seven consecutive quarters of positive same-store sales growth," which was highly digestible news for investors.
Below, find some more great ETF and market content from Benzinga:
iPhone 5C Selling Out From One Carrier
Despite Setbacks, Royal Dutch Shell is Not Out of Africa
Money Never Sleeps: Top 10 Financial Films
Benzinga Pro covers this and all market news in real time. Get your free trial here.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Daily Recap Newsletter