Moments ago, food firm Yum! Brands (YUM) reaffirmed its 2010 earnings per share (EPS) growth forecast. Ahead of its annual investor meeting, the group restated expectations for EPS growth of 14%, less special items. In addition, YUM believes it will deliver 2011 EPS growth of 10%, excluding special items. These numbers are bolstered by the company's strength in China. CEO David Novak stated, "2010 has been a strong year led by our China business, and I'm pleased to report we remain on track to deliver 14% EPS growth."

Even the cheap stuff gets cut when jobs are scarce. Burger King (NYSE: BKC), the second largest burger chain, saw fiscal first quarter profit fall 6% year-over-year, as diners opted to make their own meals at home.

Another part of the problem, though, is that competitors have cut their prices aggressively in order to bring customers through the door, a move that can have an upside for market share but doesn't always restore revenue lost to a recession.

Management at Burger King (NYSE:BKC) believes that it can increase its sales in Asia, especially China, to improve overseas sales above their current third of overall company revenue.

It will begin opening stores in big Asia counties at a more rapid clip. Chief Executive John Chidsey told Reuters the drive would eventually help the company rake in half its revenue from non-U.S. markets in four to five years, as the burger chain returns to key markets such as Japan that it had pulled out of in the 1990s where the wire service notes it was "pummeled by heated competition."

That little "pummeled by heated competition" notation may come back to haunt the company.

Everywhere Burger King goes, it will find McDonald's (NYSE:MCD). The larger chain has probably been very good and picking the best locations for its stores. That leaves it smaller rival at a disadvantage.

There are also plenty of local chains in China and Japan selling burgers, fast food, and the like. The appetite for Western-style fat foods was established itself in Asia long ago.

Burger King should not count its chickens before they are hatched.

Douglas A. McIntyre is an editor at 247wallst.com.

CKE Restaurants Inc. (NYSE:CKR) had little choice but to say goodbye to the original Hardee's franchise in Rocky Mount, North Carolina.

The location, which was opened in 1961, was shut more than a decade ago. Birds flew out of the interior roof when it was demolished, according to the Rocky Mount Telegram. It's going to be remade into a park. The whole area around the restaurant is part of an urban renewal project, according to Peter Varney, an assistant city manager.

"It's an area that's coming back to life," Varney told me in an interview.

There was some talk about converting the restaurant into a museum of some sort, but that never got anywhere. Interestingly, Hardee's is cutting its ties with the past less than one month after Wendy's International Inc. (NYSE:WEN) shut its original location too.

Change in this case is a good thing.

Businesses both large and small can't afford to be sentimental. Demolishing the first Hardee's franchise is both in the best interest of CKE and the city of Rocky Mount.