Yum China Holdings, Inc. - YUMC STOCK NEWS

Yum China reported strong first-quarter results for 2021, with total revenues increasing by 46% year-over-year to $2.56 billion. System sales grew 34%, driven by 10% same-store sales growth. KFC and Pizza Hut saw respective same-store sales increases of 5% and 38%. Operating profit surged 250% to $342 million, and net income leaped 272% to $230 million. The company continues to face challenges from COVID-19, impacting travel and dine-in traffic, but remains optimistic about long-term growth and plans to open 1,000 new stores in 2021.

Yum China Holdings, Inc. (YUMC) has announced that its board will consider declaring a quarterly dividend during a meeting scheduled for around April 28, 2021. The decision remains uncertain as no resolution has been adopted yet. The company, known for brands like KFC and Pizza Hut in mainland China, assures transparency by promptly disclosing any dividend declaration following the board meeting. Yum China had 10,506 restaurants in over 1,500 cities as of December 2020, and continues to enhance its market presence.

Yum China Holdings, Inc. announced the establishment of its Southwest Supply Chain Support Center in Chengdu, with a total investment of approximately RMB 183 million. Covering 34,000 square meters, this center is expected to enhance the company's supply chain capabilities and cold chain logistics services in Southwest China, aiming for completion by mid-2022. The project is part of Yum China's ongoing investment in its supply chain infrastructure to support its long-term goal of expanding to 20,000 stores. The company has also implemented intelligent supply chain initiatives utilizing IoT and big data.

Yum China Holdings (NYSE: YUMC) announced it will release its unaudited financial results for Q1 2021 on April 27, 2021, at 4:30 p.m. U.S. Eastern Time. This will be followed by an earnings conference call at 8:00 p.m. the same day. Investors can register for the call online and access a live webcast. As of December 2020, Yum China operated 10,506 restaurants across over 1,500 cities in China and was ranked #361 on the Fortune 500 list. The company has received multiple accolades in sustainability and equality for 2021.

Yum China has acquired a 5% equity interest in Fujian Sunner Development Co., Ltd., the largest white-feathered chicken producer in China. This strategic investment aims to enhance Yum China's supply chain security and deepen collaboration in product development. Sunner, founded in 1983, operates a vertically integrated model encompassing chicken breeding, farming, and processing. As Yum China's largest poultry supplier, this partnership is expected to strengthen their longstanding business relationship. Yum China had over 10,500 restaurants across 1,500 cities in China as of December 2020.

Yum China and Lavazza Group recently hosted Luca Ferrari, the Italian Ambassador to China, at the Lavazza Flagship Store in Shanghai on March 8, 2021. The store, which opened in early 2020 as Lavazza's first in Asia, has garnered positive consumer feedback, leading to four additional locations in Shanghai. CEO Joey Wat emphasized the partnership's potential to meet evolving consumer needs in the Chinese coffee market. In 2021, Yum China plans to accelerate Lavazza store openings and test various store formats to leverage its local market expertise and Lavazza's coffee credentials.

Yum China has been appointed the Official Exclusive Supplier of Western Food Catering Services for the 19th Asian Games, scheduled from September 10-25, 2022. This agreement, finalized in Hangzhou, enables Yum China to provide KFC and Pizza Hut services at competition venues. The partnership allows the use of Asian Games branding in promotional efforts. This follows Yum China's prior selection as the Official Retail Food Services Sponsor for the Beijing 2022 Olympic Winter Games.

Yum China reported a robust fourth quarter with total revenues increasing by 11% to $2.26 billion. Operating profit surged 90% year-over-year, reaching $180 million. The company opened 1,165 new stores in 2020, enhancing its total to 10,506 locations. Despite challenges from COVID-19, same-store sales showed resilience with a 5% increase in system sales. However, full-year revenues declined 6% to $8.26 billion, highlighting the ongoing impact of the pandemic. The board declared a cash dividend of $0.12 per share, payable on March 25, 2021.