Yum CEO David Novak takes on KFC's weak results

Lagging sales at KFC prompted David Novak, chief executive officer of parent Yum! Brands, to unleash of string of criticisms of the fast-food chain this morning during a conference call with analysts.

“Taco Bell and Pizza Hut are winning, and KFC is losing,” Novak said of Yum’s three biggest brands. “We have a lot of work to do at KFC.”

A lack of new ideas and menu items at the chicken chain’s U.S. restaurants contributed to lagging profits in the three months ending June 14, Novak said. Yum’s overall net income for the quarter rose 4 percent to $224 million, but he said KFC’s disappointing results have “taken the bloom” off an otherwise good year so far.