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 Holdings, Inc. (NYSE: YUMC) announced the establishment of a RMB 10 million Employee Mutual Aid Fund to provide financial assistance to employees facing emergencies or critical illnesses. This initiative enhances the Company's employee care program, reflecting its commitment to worker welfare amidst challenges from COVID-19. The fund is a continuation of Yum China’s efforts, which also include the Family Care Fund and enhanced medical insurance for employees. Recognition for its employee care includes awards like the 2022 China Best ESG Employers Award.
Yum China Holdings has launched Asian Games-themed KFC and Pizza Hut restaurants in Hangzhou, promoting the 19th Asian Games set for 2023. The restaurants feature unique designs and interactive experiences, aiming to enhance public engagement with the Games. Yum China has appointed 28 'Asian Games Ambassadors' from its workforce to support catering at the event. The company has been involved in preceding Asian Games events since July 2021, serving over 10,000 customers, demonstrating its expertise in event catering.
Yum China Holdings, Inc. (YUMC) will announce its fourth-quarter and fiscal year 2022 financial results on February 7, 2023, at 4:30 p.m. ET. A conference call will follow at 7:00 p.m. ET, accessible via a live webcast. The earnings release and accompanying materials will be available on its Investor Relations website. As of September 2022, Yum China operated 12,409 restaurants across over 1,700 cities. The company is a licensee of Yum! Brands, operating KFC, Pizza Hut, and Taco Bell in mainland China, and recently ranked 359th on the Fortune 500 list.
Yum China reported a 5% increase in total revenues for Q3 2022, reaching $2.68 billion, and a substantial 77% growth in operating profit to $316 million. Despite ongoing COVID-related challenges, system sales matched the national average, with notable performances from KFC and Pizza Hut. The company opened 239 new stores in Q3, totaling 12,409 locations. Although same-store sales remained flat year-over-year, profits were buoyed by effective cost management strategies.
Looking forward, Yum China maintains its plan to open 1,000 to 1,200 new stores in 2022.
Yum China Holdings, Inc. (YUMC) has transitioned from a secondary to a primary listing status on the Hong Kong Stock Exchange, aiming to elevate its global market profile. This shift allows for enhanced accessibility to mainland Chinese investors through the Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect programs. CEO Joey Wat expressed optimism that the new listing will broaden the shareholder base and increase liquidity, while the company plans to announce its Q3 2022 financial results on November 1, 2022.
Yum China Holdings, Inc. (NYSE: YUMC) announced a board meeting scheduled for November 2, 2022, to consider declaring a quarterly dividend. The outcome will be disclosed promptly if decided. As of now, no resolution regarding the dividend has been adopted, and there's no assurance it will be declared. The company operates over 12,170 restaurants across China, holding exclusive rights to KFC and Pizza Hut, among others. It was also recognized in the Dow Jones Sustainability Indices and ranked #359 on the Fortune 500 list in 2022.
Yum China Holdings (YUMC) will report its third-quarter financial results on November 1, 2022, at 4:30 p.m. ET. A conference call will follow at 8:00 p.m. ET, available via a live webcast.
The company, which operates KFC and Pizza Hut in China, had over 12,170 restaurants as of June 2022. Yum China continues to build its brand presence and has been recognized for its sustainability efforts, ranking on the Fortune 500 list.
Yum China Holdings, Inc. (YUMC) announced its application for a voluntary conversion from secondary to primary listing on the Hong Kong Stock Exchange as of August 15, 2022. The HKEX acknowledged this application, with a Special Meeting scheduled for October 11, 2022 to seek stockholder approval on key items, including share issuance and repurchase mandates. If approved, the conversion will take effect on October 24, 2022. CEO Joey Wat emphasized that this move would enhance shareholder access, increase liquidity, and mitigate delisting risks from the NYSE.
Yum China Holdings reported a second quarter operating profit of $81 million, despite severe COVID-related disruptions that impacted the restaurant industry in China. Total revenues decreased by 13% year-over-year to $2.13 billion, with same-store sales declining by over 20%. The company opened 53 new stores, reaching a total of 12,170 locations as of June 30, 2022. While exploring recovery strategies, Yum China expects slow and uneven restaurant traffic recovery due to ongoing COVID outbreaks.
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