Yum China's Little Sheep and Huang Ji Huang mark respective 25th and 20th anniversaries with new store formats and new store openings

Rhea-AI Summary

Yum China's Chinese Dining Business Unit, managing Little Sheep and Huang Ji Huang brands, celebrates significant milestones in 2024 with new store openings and innovative formats. Nine new Little Sheep stores were launched in May 2024 across various Chinese cities, and the brand made its return to the U.S. market in March 2024 at the American Dream Meadowlands in New Jersey. Domestically, Little Sheep introduced one-person hotpot modules. Huang Ji Huang unveiled a new logo, store design, and brand strategy to enhance its market position. Yum China aims to reach around 800 Chinese dining stores by mid-2024, leveraging economies of scale and food innovation to ensure high customer standards and operational efficiency.

Positive

• Nine new Little Sheep stores added in China in May 2024.
• Little Sheep re-entered U.S. market in March 2024 with a new store in New Jersey.
• Introduction of new store formats, including one-person hotpot modules.
• Huang Ji Huang launched a new logo, updated store design, and brand strategy.
• Yum China aims for about 800 Chinese dining stores by mid-2024.
• Enhanced economies of scale and stronger food innovation capabilities.

Negative

• None.

SHANGHAI, May 31, 2024 /PRNewswire/ -- Yum China's Chinese Dining Business Unit – which includes the Little Sheep and Huang Ji Huang brands – made exciting new progress since the beginning of 2024, with new stores added to its domestic and global portfolio and innovative new store formats introduced to serve a broader range of party sizes.

In May 2024 alone, nine new Little Sheep stores were added in multiple first-, second-, and third-tier cities across China. Internationally, Little Sheep recently returned to the U.S. market in March 2024 with a new store at the American Dream Meadowlands shopping complex in East Rutherford, New Jersey. Domestically, Little Sheep introduced new store formats, including one-person hotpot modules which cater to smaller party sizes.

Huang Ji Huang is also poised to extend its presence both within China and across international markets this year. Earlier this month, Huang Ji Huang announced its new logo, updated store design and brand strategy, to help reinforce its positioning as an industry-leader in the simmer pot category and drive further interest among younger consumers.

The Little Sheep and Huang Ji Huang brands mark their 25^th and 20^th anniversaries respectively this year. Under Yum China's Chinese Dining Business Unit, both brands benefit from enhanced economies of scale and stronger food innovation capabilities which help to achieve a high standard of customer experience and operating efficiencies. Yum China expects its Chinese dining store count to reach approximately 800 by the first half of 2024.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. We intend all forward-looking statements to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the fact that they do not relate strictly to historical or current facts and by the use of forward-looking words such as "expect," "expectation," "believe," "anticipate," "may," "could," "intend," "belief," "aim," "plan," "estimate," "target," "predict," "project," "likely," "will," "continue," "should," "forecast," "outlook," "look forward to" or similar terminology. These statements are based on current estimates and assumptions made by us in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we believe are appropriate and reasonable under the circumstances, but there can be no assurance that such estimates and assumptions will prove to be correct. Forward-looking statements are not guarantees of performance and are inherently subject to known and unknown risks and uncertainties that are difficult to predict and could cause our actual results or events to differ materially from those indicated by those statements. We cannot assure you that any of our expectations, estimates or assumptions will be achieved. The forward-looking statements included in this press release are only made as of the date of this press release, and we disclaim any obligation to publicly update any forward-looking statement to reflect subsequent events or circumstances, except as required by law. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. You should consult our filings with the Securities and Exchange Commission (including the information set forth under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations " in our Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q) for additional detail about factors that could affect our financial and other results.

About Yum China Holdings, Inc.

Yum China is the largest restaurant company in China with a mission to make every life taste beautiful. The Company has over 400,000 employees and operates over 15,000 restaurants under six brands across more than 2,000 cities in China. KFC and Pizza Hut are the leading brands in the quick-service and casual dining restaurant spaces in China, respectively. In addition, Yum China has also partnered with Lavazza to develop the Lavazza coffee concept in China. Little Sheep and Huang Ji Huang specialize in Chinese cuisine. Taco Bell offers innovative Mexican-inspired food. Yum China has a world-class, digitalized supply chain which includes an extensive network of logistics centers nationwide and an in-house supply chain management system. Its strong digital capabilities and loyalty program enable the Company to reach customers faster and serve them better. Yum China is a Fortune 500 company with the vision to be the world's most innovative pioneer in the restaurant industry. For more information, please visit http://ir.yumchina.com.

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SOURCE Yum China Holdings, Inc.

FAQ

How many new Little Sheep stores were opened in China in May 2024?

Nine new Little Sheep stores were opened across various cities in China in May 2024.

When did Little Sheep re-enter the U.S. market?

Little Sheep re-entered the U.S. market in March 2024.

Where is the new Little Sheep store located in the U.S.?

The new Little Sheep store is located at the American Dream Meadowlands shopping complex in East Rutherford, New Jersey.

What new store format did Little Sheep introduce domestically?

Little Sheep introduced one-person hotpot modules domestically.

What changes did Huang Ji Huang announce in 2024?

Huang Ji Huang announced a new logo, updated store design, and brand strategy in 2024.

What is Yum China's target for its Chinese dining store count by mid-2024?

Yum China aims to reach approximately 800 Chinese dining stores by mid-2024.