Welcome to our dedicated page for Yum China Holdings news (Ticker: YUMC), a resource for investors and traders seeking the latest updates and insights on Yum China Holdings stock.
Yum China Holdings, Inc. (NYSE: YUMC, HKEX: 9987) is the largest restaurant chain in China, operating over 15,000 restaurants across more than 2,000 cities. With flagship brands like KFC and Pizza Hut, and additional brands including Little Sheep, East Dawning, Taco Bell, Huang Ji Huang, COFFii & Joy, and Lavazza, Yum China caters to a wide array of culinary tastes and dining styles.
Founded in 2016 after separating from Yum! Brands, Yum China has grown to become a Fortune 500 company with a mission to make every life taste beautiful. The company employs over 400,000 people and generates revenue through its own restaurants and franchise fees. In 2022, Yum China achieved nearly USD 10 billion in systemwide sales with approximately 13,000 units, including 9,094 KFCs and 2,903 Pizza Huts.
Yum China continues to innovate with its digital ecosystem and supply chain capabilities. Their industry-leading digital platform and loyalty program enable fast and efficient customer service. Recent strategic initiatives include expanding their price range to appeal to broader customer bases and launching engaging campaigns with popular e-games to attract younger audiences.
Recent Achievements:
- Reported record total revenue and adjusted operating profit for Q3 2023.
- Added 1,155 new stores in the first nine months of 2023, targeting 1,400-1,600 new stores for the full year.
- Increased share repurchase authorization by $1 billion, with plans to return $3 billion to shareholders from 2024 to 2026.
- Collaborated with Lavazza to expand the coffee brand in China.
- Launched innovative pet-friendly Pizza Hut restaurants in collaboration with Beijing Aita Animal Protection Foundation.
Current Projects:
- Enriching core menu offerings at KFC and Pizza Hut to drive incremental traffic.
- Expanding brand presence in lower-tier cities to capture demand from long-term consumption upgrades.
- Innovative store formats such as one-person hotpot modules for Little Sheep.
- Building awareness and fostering a culture of care with pet-friendly dining experiences and animal welfare initiatives.
CEO Joey Wat and CFO Andy Yeung emphasize the company's robust supply chain, digital innovation, and strategic growth plan to achieve its ambitious goals, including operating 20,000 stores by 2026 and returning significant value to shareholders.
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.
Yum China Holdings, Inc. (YUMC) announced its board will consider declaring a quarterly dividend on or around February 4, 2021. The decision will depend on a Board resolution that has not yet been adopted. The announcement aligns with HKEX's rules requiring advance notice for dividend considerations. No assurance is provided for the dividend's declaration at this time. Yum China operates over 10,150 restaurants across various brands in mainland China, including KFC and Pizza Hut, and was recognized on the Fortune 500 list in 2020.
Yum China is advancing its sustainability initiatives by committing to reduce non-degradable plastic packaging weight by 30% by 2025. The company plans to eliminate approximately 8,000 tons of non-degradable plastics annually. KFC and Pizza Hut in mainland China will cease using plastic straws, with KFC also replacing over 90% of plastic cutlery with wooden alternatives. By the end of 2022, Pizza Hut aims to eliminate non-degradable plastic bags, reinforcing Yum China's dedication to eco-friendly practices and regulatory compliance.
Yum China Holdings, Inc. has officially launched two new branches of its Centralized Shared Service Center (CSSC) in Suzhou and Wuxi, increasing the total number to three in China. These centers aim to enhance operational efficiency, aid crisis management, and support the company's long-term growth strategy. CEO Joey Wat emphasized the necessity of this expansion for resilience against challenges like COVID-19. Established in 2015, the CSSCs streamline HR and finance processes, facilitating continued operations amid disruptions.
On December 17, 2020, Yum China announced innovative technologies to enhance customer experience amid COVID-19 challenges. The company piloted self-driving cars for Pizza Hut and KFC in Shanghai, facilitating order collection via mobile payment. KFC also introduced smart lockers for contactless takeaway and upgraded its dessert station with automated service. The company aims to offer immersive dining experiences with motion-sensing technology and 5D designs at select locations. With over 10,150 restaurants in China, Yum China remains committed to integrating technology to drive sustainable growth.
Yum China Holdings is set to announce its unaudited financial results for Q4 and the fiscal year ending December 31, 2020. The results will be reported on February 3, 2021, at 4:30 p.m. U.S. Eastern Time, followed by an earnings conference call at 7:00 p.m. the same day. The company, a leading quick-service restaurant operator in China, controls brands like KFC and Pizza Hut, boasting 10,150 restaurants across over 1,400 cities by September 2020. Investors can access the earnings release and related materials on Yum China's Investor Relations website.
Yum China Holdings (YUMC) announced its donation of modern kitchen equipment to 70 rural schools in Hubei, promoting post-COVID-19 recovery efforts. CEO Joey Wat emphasized that this initiative aims to ensure children have access to safe, nutritious food. The program has supplied kitchen equipment to 1,200 schools, benefiting nearly 400,000 students nationwide. Additionally, Yum China has previously donated RMB 3 million to support COVID-19 medical workers and increased local food sourcing. This reflects Yum China's commitment to community support and child nutrition.
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