Taco Bell Profits Up in 3rd Quarter

Taco Bell saw a 23% rise in operating profits and a 21% gain in sales during the third quarter ended Sept. 5, its parent company, PepsiCo Inc. reported Tuesday.

The Irvine-based Mexican-style fast-food chain said its operating profits were $61.2 million, up from $49.7 million for the same quarter last year. It came on sales of $610 million, an increase over $506.1 million in the third quarter of 1991.

While some of the growth in sales was because of expansion of the chain, Taco Bell said its sales at restaurants that existed last year increased 5% for the quarter.

‘It’s shaping up to be another good year for Taco Bell,” said PepsiCo Chairman Wayne Calloway. “They have been able to sustain their same-store sales growth and achieve strong profit growth while holding their prices steady.”