That campaign continues, with Yum China planning to open between 1,100 and 1,300 net new stores this year, up about 10% from its 12,947 stores at the end of last year. Its same-store sales both fell and rose during the last three years, reflecting a volatile operating environment as it was frequently forced to temporarily close or reduce service at its thousands of restaurants, and as consumers often avoided in-store dining to reduce their risk of infection.ĭespite stepping up its delivery and takeout services, the company’s revenue also fell in two of the last three years, even as it maintained an aggressive expansion initiative that saw it boost its footprint by 40% during the three years of the pandemic. In many ways, Yum China came to represent the huge challenges that confronted China’s many consumer-facing retailers during the pandemic. Today, we are more agile and responsive to the dynamic operating environment with enhanced supply chain infrastructures and digital capabilities,” Yum China CEO Joey Wat said in comments accompanying the company’s first-quarter results released on Tuesday.
“Our performance was enabled by the execution of our RGM (Resilience-Growth-Moat) strategy over the past few years. Not far down the menu, the company also reported same-store sales growth in the first three months of the year. Topping the menu in the company’s latest results was a restaurant margin that reached a six-year high as China’s largest restaurant operator benefited from steps it took over the last three years to improve its operation efficiency. ( NYSE: YUMC )(9987.HK), operator of KFC and Pizza Hut restaurants in China, has just followed with a second helping of financials showing strong signs of recovery after three years of pandemic indigestion. The operator of KFC and Pizza Hut restaurants in China reported its same-store sales rose 8% year-over-year in the first quarter.Īfter serving up some cautiously optimistic financials three months ago, Yum China Holdings Inc.
0 kommentar(er)
