Amid news of potential KFC store closures comes this update…the infamous Double Down sandwich has not been the hit Yum Brands was expecting. CNN Money reports that sales were about as sluggish as customers felt after eating a Double Down.
Yum Brands (YUM, Fortune 500) did not break out sales figures for specific products in its second-quarter earnings — the first quarter in which the sandwich was sold. But Mitchell Speiser, analyst for Buckingham Research, said the Double Down contributed to only 5% of KFC’s sales. In order for a new product to be a blockbuster it has to be “north of 10%,” he said.
“It’s not going to move the needle on the overall business,” Speiser said, “but it was a product that seemed to get a lot of publicity.”
Yum Brands had high hopes for the sandwich. In an April press release describing the product launch, the company said, “The Double Down generated more buzz than any test market item in KFC history.”
Speiser said that he’s tried the sandwich, which he described as “a little messy.”
If that weren’t bad enough, the Double Down may have to compete with the foot long cheeseburger.