https://www.scmp.com/rss/240064/feed Yum! Brands operates or licenses Taco Bell, KFC, Pizza Hut, and other restaurants. It generates more than half of its overall operating profit in China, where it is the biggest Western restaurant operator with roughly 6,000 mostly KFC restaurants. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Daniel Ren Daniel Ren For Yum China CEO Joey Wat, success in the mainland’s vast but fierce market does not hinge only on being a local or international fast-food brand. “I personally have huge respect for many local brands,” she said in November. “Chinese players are innovating a lot under the leadership of their founders. We fully understand that this is a cutthroat market.” Wat admitted to being a fan of some mainland restaurant chains whose founders remained pivotal in strategic planning and daily operations.... https://www.scmp.com/business/china-business/article/3341811/chinese-consumers-rapidly-changing-demands-keep-kfc-owner-its-toes?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3341811/chinese-consumers-rapidly-changing-demands-keep-kfc-owner-its-toes?utm_source=rss_feed Sat, 07 Feb 2026 03:00:10 +0000 Associated Press Associated Press Pizza Hut plans to close 250 US restaurants in the first half of this year as its parent company considers a sale of the chain. Yum! Brands said on Wednesday it is targeting underperforming Pizza Hut restaurants in its system. Pizza Hut has more than 6,000 locations in the US. The Louisville, Kentucky-based company said in November it was conducting a formal review of options for Pizza Hut, which has struggled with outdated restaurants and growing competition. The chain’s US same-store sales, or... https://www.scmp.com/business/companies/article/3342571/pizza-hut-close-250-us-restaurants-parent-company-considers-selling-brand?utm_source=rss_feed https://www.scmp.com/business/companies/article/3342571/pizza-hut-close-250-us-restaurants-parent-company-considers-selling-brand?utm_source=rss_feed Thu, 05 Feb 2026 20:53:58 +0000 Daniel Ren Daniel Ren Yum China Holdings, operator of the KFC and Pizza Hut chains across mainland China and Hong Kong, plans to rev up store expansion this year after its fourth-quarter earnings beat analysts’ estimates. The fast-food behemoth aimed to add 1,900 new outlets in 2026, bringing the total to 20,000, after it opened 1,706 new stores in 2025, said Adrian Ding, chief financial officer. The company was inviting more investors to open franchise stores, which would account for 40 to 50 per cent of new outlets... https://www.scmp.com/business/china-business/article/3342465/kfc-pizza-hut-operator-yum-china-accelerates-expansion-amid-early-signs-spending-thaw?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3342465/kfc-pizza-hut-operator-yum-china-accelerates-expansion-amid-early-signs-spending-thaw?utm_source=rss_feed Thu, 05 Feb 2026 05:30:37 +0000 Bloomberg Bloomberg Shares of Jollibee Foods jumped the most in more than five years after it announced plans to spin off its international business and list it on a US stock exchange by late 2027 as the Philippine fast-food group plots its global expansion. Jollibee, which increasingly is taking aim at global fast-food giants such as McDonald’s and Yum! Brands from Los Angeles to Ho Chi Minh City, said on Tuesday that it had hired international and local advisers to work on the spin-off and potential US listing.... https://www.scmp.com/business/companies/article/3338926/mcdonalds-philippine-rival-jollibee-list-global-business-us-2027?utm_source=rss_feed https://www.scmp.com/business/companies/article/3338926/mcdonalds-philippine-rival-jollibee-list-global-business-us-2027?utm_source=rss_feed Tue, 06 Jan 2026 09:13:27 +0000 Daniel Ren Daniel Ren Yum China Holdings, operator of KFC and Pizza Hut restaurant chains across mainland China and Hong Kong, plans to ramp up expansion into more lower-tier cities based on its flexible store formats, expecting this push to generate higher returns for the company over the next five years. At the company’s Investor Day conference in Shenzhen on Monday, CEO Joey Wat said Yum China’s total number of outlets would increase to 30,000 by 2030, 76 per cent more than the firm’s estimated 17,000 outlets by... https://www.scmp.com/business/china-business/article/3333117/kfc-pizza-hut-operator-yum-china-pushes-rapid-expansion-lower-tier-mainland-cities?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3333117/kfc-pizza-hut-operator-yum-china-pushes-rapid-expansion-lower-tier-mainland-cities?utm_source=rss_feed Mon, 17 Nov 2025 10:30:09 +0000 Daniel Ren Daniel Ren Yum China Holdings, operator of the KFC and Pizza Hut restaurant brands on the mainland, has raised its target for opening new coffee shops as a cafe culture has spurred consumer spending. The company was expected to operate 1,700 KCoffee cafes across the country by the end of 2025, up from the previous target of 1,500 outlets, according to CEO Joey Wat. “KCoffee Cafes have been effective in driving incremental traffic, sales and profit,” she said at a briefing on Tuesday evening, according to a... https://www.scmp.com/business/china-business/article/3320996/yum-china-raises-target-opening-mainland-coffee-shops-cafe-culture-takes-hold?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3320996/yum-china-raises-target-opening-mainland-coffee-shops-cafe-culture-takes-hold?utm_source=rss_feed Wed, 06 Aug 2025 23:30:07 +0000 Daniel Ren Daniel Ren Yum China Holdings, the operator of KFC and Pizza Hut restaurants in mainland China, will further embrace artificial intelligence (AI) to improve operating efficiency and profitability and allow its store managers to focus on customer service. The firm, which introduced its Q-Smart AI-powered assistant in June, was expected to help reduce waste, improve quality and save labour costs, chief technology officer (CTO) Leila Zhang said in an interview. The AI-powered system could help with staff... https://www.scmp.com/business/china-business/article/3317135/kfc-pizza-hut-operator-yum-china-embraces-ai-boost-efficiency-profitability?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3317135/kfc-pizza-hut-operator-yum-china-embraces-ai-boost-efficiency-profitability?utm_source=rss_feed Sun, 06 Jul 2025 07:33:22 +0000 Wency Chen Wency Chen Yum China, the company behind chains such as KFC and Pizza Hut, introduced an artificial intelligence (AI) agent for store managers on Friday, aligning with the restaurant industry’s broader push towards AI adoption to enhance efficiency. The assistant, named Q-Smart, was an AI-powered management system that enabled natural language interactions with store managers through wireless earphones and smartwatches, the nation’s largest restaurant operator announced at an inaugural AI Day event at its... https://www.scmp.com/tech/tech-trends/article/3315379/yum-china-rolls-out-ai-agent-help-not-replace-store-managers?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3315379/yum-china-rolls-out-ai-agent-help-not-replace-store-managers?utm_source=rss_feed Sun, 22 Jun 2025 07:06:13 +0000 US fast-food chains were pulling fresh onions out of their menu items on Thursday after the vegetable was named as the likely source of an E coli outbreak at McDonald’s restaurants that has sickened 49 people and killed one. Restaurant Brands International, parent of McDonald’s rival Burger King, and Yum Brands said they were removing fresh onions from menu items. Roughly 5 per cent of Burger King locations have removed onions from the menu, a Burger King spokesperson said in a... https://www.scmp.com/news/world/united-states-canada/article/3283782/us-fast-food-chains-pull-onions-some-menus-after-mcdonalds-e-coli-outbreak?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3283782/us-fast-food-chains-pull-onions-some-menus-after-mcdonalds-e-coli-outbreak?utm_source=rss_feed Fri, 25 Oct 2024 02:54:52 +0000 Yuke Xie Yuke Xie Each morning around 10am, Tommy Zhang, a medical researcher in Shenzhen, steps off the subway and heads for his office in the city’s bustling college town. As he crosses the overpass, he always sees a food stall where long lines of customers wait for the 15-yuan (US$2.10) breakfast takeaways. That stall, with its distinctive red logo, belongs to KFC, a fast-food restaurant chain operated by franchise holder Yum China Holdings. It offers several pre-packed food combos for quick pickup. Zhang... https://www.scmp.com/business/companies/article/3276694/kfc-mcdonalds-haidilao-push-small-store-format-beat-chinas-consumption-downgrade?utm_source=rss_feed https://www.scmp.com/business/companies/article/3276694/kfc-mcdonalds-haidilao-push-small-store-format-beat-chinas-consumption-downgrade?utm_source=rss_feed Sun, 01 Sep 2024 01:00:12 +0000 India’s western state of Maharashtra will inspect outlets of global fast-food brands to check if they use cheese alternatives in products wrongly promoted as containing real cheese, widening scrutiny beyond a crackdown on McDonald’s, a top official said. The checks threaten to cause a headache for global brands after recent inflationary pressure hit consumption of burgers and pizzas that are pricey for many Indian consumers, prompting firms to launch of discounted offerings. McDonald’s biggest... https://www.scmp.com/news/asia/south-asia/article/3253397/indias-real-cheese-crackdown-mcdonalds-sparks-wider-fast-food-chain-probe-kfc-burger-king-pizza-hut?utm_source=rss_feed https://www.scmp.com/news/asia/south-asia/article/3253397/indias-real-cheese-crackdown-mcdonalds-sparks-wider-fast-food-chain-probe-kfc-burger-king-pizza-hut?utm_source=rss_feed Tue, 27 Feb 2024 11:00:30 +0000 The seemingly relentless decline in prices of Chinese goods amid tepid consumer demand is denting expectations that corporate earnings can revive the flagging stock market. From electric vehicles (EVs) to fast food, companies are engaging in a battle of promotions aimed at luring customers who are spooked by dim job prospects and have seen a persistent property slump hurt wealth creation. Consumer prices fell for a third-straight month in December, the longest streak since 2009, deepening... https://www.scmp.com/business/china-business/article/3248377/china-price-wars-help-spark-us157-billion-rout-mainland-consumer-stocks-firms-including-alibaba-yum?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3248377/china-price-wars-help-spark-us157-billion-rout-mainland-consumer-stocks-firms-including-alibaba-yum?utm_source=rss_feed Sun, 14 Jan 2024 08:17:37 +0000 Yum China Holdings, which owns the KFC and Pizza Hut restaurant chains in mainland China, is melding more local specialities into its dishes to cater to budget-conscious consumers as it moves to capitalise on China’s economic recovery after the end of Covid-19 restrictions. The fast-food behemoth, which is spending up to US$900 million to expand by up to 1,300 stores across mainland China this year, is adjusting to changing tastes in a fragmented and cutthroat market where consumer habits have... https://www.scmp.com/business/china-business/article/3212479/kfc-and-pizza-hut-operator-yum-china-ups-ante-chinese-cuisine-capture-budget-conscious-post-covid-19?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3212479/kfc-and-pizza-hut-operator-yum-china-ups-ante-chinese-cuisine-capture-budget-conscious-post-covid-19?utm_source=rss_feed Mon, 06 Mar 2023 04:31:19 +0000 Yum China Holdings, which owns the KFC and Pizza Hut restaurant chains in mainland China, will open another 1,100 to 1,300 stores this year. The firm is betting on China’s reopening and hopes “the worst is over”, Andy Yeung, Yum China’s chief financial officer, said during a results briefing late on Wednesday. “We are full of hope and will keep cautiously optimistic,” he said. “While we have seen some recovery, there are still uncertainties ahead and consumers tend to be careful with their... https://www.scmp.com/business/china-business/article/3209531/kfc-pizza-hut-operator-yum-china-open-1300-stores-worst-over-posts-earnings-decline-2022?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3209531/kfc-pizza-hut-operator-yum-china-open-1300-stores-worst-over-posts-earnings-decline-2022?utm_source=rss_feed Wed, 08 Feb 2023 11:36:33 +0000 Yum China Holdings, the owner of the KFC and Pizza Hut restaurant chains in China, took a beating from the mainland’s stringent Covid-19 curbs as its net profit dropped by more than half from a year earlier. The fast-food giant said on Friday that its earnings in the three months ended June 30 came to US$83 million, down 54 per cent from the same period last year. Its performance still beat the company’s forecast in May when it warned investors of a potential net loss amid a flare-up in the... https://www.scmp.com/business/china-business/article/3187092/kfc-pizza-hut-operator-yum-china-reports-54-cent-profit?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3187092/kfc-pizza-hut-operator-yum-china-reports-54-cent-profit?utm_source=rss_feed Fri, 29 Jul 2022 11:55:34 +0000 China’s financial regulator has taken a step towards ending the long-standing stalemate with the United States over corporate audits, making an overture to relieve some of the tensions that have routed New York-listed Chinese stocks in the past year. The China Securities Regulatory Commission (CSRC) is considering a new approach that grants the US Public Company Accounting Oversight Board (PCAOB) access to the audit papers of China-based companies after they are cleared by the Chinese finance... https://www.scmp.com/business/article/3171583/chinas-financial-regulator-plans-new-approach-break-deadlock-us-over?utm_source=rss_feed https://www.scmp.com/business/article/3171583/chinas-financial-regulator-plans-new-approach-break-deadlock-us-over?utm_source=rss_feed Wed, 23 Mar 2022 23:00:30 +0000 Leading Yum China, China’s largest restaurant company with over 10,000 restaurants, Joey Wat is known as one of only 37 female CEOs listed on the Fortune 500 with an estimated net worth of US$15.2 million. Despite having the weakest stock debut this year among billion-dollar listings in Hong Kong, Wat has plans to open at least 800 stores by the end of 2020. Meet Ji Kaiting, millennial Chinese billionaire who loves fast cars Wat did not come from an affluent family. They moved from Fuzhou to... https://www.scmp.com/magazines/style/news-trends/article/3104112/savers-kfc-china-millionaire-yum-china-ceo-joey-wat?utm_source=rss_feed https://www.scmp.com/magazines/style/news-trends/article/3104112/savers-kfc-china-millionaire-yum-china-ceo-joey-wat?utm_source=rss_feed Mon, 05 Oct 2020 00:00:27 +0000 The amount of money deposited in Hong Kong’s banking system surged for a third straight month in August as investors chased a series of hotly anticipated initial public offerings (IPO) and secondary listings by Chinese firms in the city. Deposits held in accounts rose by HK$387.9 billion (US$50 billion), or 2.7 per cent, to reach HK$14.8 trillion at the end of August, the Hong Kong Monetary Authority (HKMA) said on Wednesday. Deposits were up 8.9 per cent from a year earlier. It followed a 2.7... https://www.scmp.com/business/banking-finance/article/3103719/hong-kong-bank-deposits-surge-us50-billion-august?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3103719/hong-kong-bank-deposits-surge-us50-billion-august?utm_source=rss_feed Wed, 30 Sep 2020 11:15:27 +0000 Yum China, the country’s largest restaurants operator, said on Monday it expected its delivery business to continue expanding rapidly even after the coronavirus pandemic recedes. The outbreak has accelerated the adoption of food deliveries and takeaway, according to the company, which runs about 10,000 restaurants under brands such as KFC and Pizza Hut on the mainland. Delivery orders accounted for 32 per cent of its sales by the end of June, rising from 21 per cent at the end of last year. This... https://www.scmp.com/business/china-business/article/3102405/kfc-and-pizza-hut-operator-yum-china-sees-delivery-business?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3102405/kfc-and-pizza-hut-operator-yum-china-sees-delivery-business?utm_source=rss_feed Mon, 21 Sep 2020 11:00:19 +0000 Yum China Holdings is set to raise at least HK$17.3 billion (US$2.2 billion) in its secondary offering in Hong Kong pricing its new shares at HK$412, the company said on Friday. The operator of KFC, Pizza Hut and Taco Bell in the mainland previously said it planned to sell 41.9 million shares. The transaction would represent a sharp 4.9 per cent discount to its closing price of US$55.92 in New York on Thursday. By comparison, NetEase priced its secondary listing in Hong Kong in June at a tight... https://www.scmp.com/business/banking-finance/article/3100204/kfc-operator-yum-china-expected-raise-us22-billion?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3100204/kfc-operator-yum-china-expected-raise-us22-billion?utm_source=rss_feed Fri, 04 Sep 2020 04:06:58 +0000 Yum China Holdings received approval on Friday to move forward with a potential US$2 billion stock offering in Hong Kong, according to people familiar with the matter. A listing by the operator of KFC, Pizza Hut and Taco Bell in mainland China would mark the latest “homecoming” of a US-listed Chinese firm as more companies pursue secondary listings in the city against the backdrop of rising tensions between Washington and Beijing. The company is considering a listing as soon as September,... https://www.scmp.com/business/banking-finance/article/3099290/pizza-hut-kfc-operator-yum-china-gets-green-light-pursue?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3099290/pizza-hut-kfc-operator-yum-china-gets-green-light-pursue?utm_source=rss_feed Fri, 28 Aug 2020 09:35:50 +0000 Yum China Holdings said on Monday it will introduce Beyond Meat’s plant-based burgers at its fast-food restaurants in mainland China starting June 3. Beyond Burgers will be introduced as a limited-time offering at select KFC, Pizza Hut and Taco Bell locations in mainland China, Yum China said in a statement. The launch is an important step for Beyond Meat which is looking to tap the Chinese market. The company in April partnered with Starbucks, marking an important step to expand into Asia,... https://www.scmp.com/tech/innovation/article/3087076/yum-china-bring-beyond-meats-plant-based-burgers-chinese-branches?utm_source=rss_feed https://www.scmp.com/tech/innovation/article/3087076/yum-china-bring-beyond-meats-plant-based-burgers-chinese-branches?utm_source=rss_feed Tue, 02 Jun 2020 01:42:16 +0000 Yum China Holdings, the Shanghai-based operator of Pizza Hut, KFC and Taco Bell restaurants in mainland China, has been forced to temporarily close about a third of its restaurants because of the coronavirus outbreak, it said overnight in a press release. The company, which owns 9,200 stores in more than 1,300 cities in China, said its 2020 sales and profit would be hit by the outbreak, which has forced retailers ranging from Starbucks and McDonald’s to Nike and Adidas to shut stores, as part of... https://www.scmp.com/business/companies/article/3049341/kfc-pizza-hut-operator-yum-china-says-coronavirus-has-forced-it?utm_source=rss_feed https://www.scmp.com/business/companies/article/3049341/kfc-pizza-hut-operator-yum-china-says-coronavirus-has-forced-it?utm_source=rss_feed Thu, 06 Feb 2020 09:00:22 +0000 Yum China Holdings Inc is working with China International Capital Corp. and Goldman Sachs Inc. on the preparations of a second listing in Hong Kong, fuelling the wave of US-listed Chinese companies returning to a market that is closer to home. The operator of Pizza Hut and KFC restaurants in China is working with the banks on the share sale, according to people familiar with the matter. The listing could take place as soon as this year, said the people, who asked not to be identified as the... https://www.scmp.com/business/article/3046074/yum-china-operator-kfc-and-pizza-hut-working-cicc-goldman-hong-kong?utm_source=rss_feed https://www.scmp.com/business/article/3046074/yum-china-operator-kfc-and-pizza-hut-working-cicc-goldman-hong-kong?utm_source=rss_feed Tue, 14 Jan 2020 11:51:18 +0000 KFC is to deviate from Colonel Sanders’ original “finger lickin’ good” recipe by offering nuggets made from plants, rather than its traditional chickens. The fast-food chain said it was working with the rapidly growing meat substitute company Beyond Meat on a one-day trial that, if successful, would lead to plant-based chicken nuggets and wings appearing on its US menu. KFC, which is owned by the New York Stock Exchange-listed Yum! Brands, has more than 23,000 restaurants around the world. The... https://www.scmp.com/news/world/united-states-canada/article/3024447/kentucky-fried-plant-based-meat-substitute-kfc-hold?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3024447/kentucky-fried-plant-based-meat-substitute-kfc-hold?utm_source=rss_feed Mon, 26 Aug 2019 19:28:44 +0000 By Cheang Ming Kentucky Fried Chicken celebrated its 30th anniversary of operations in China by unveiling a limited edition smartphone it had collaborated on with Chinese smartphone maker Huawei. KFC made the announcement about the partnership with Huawei in a post on its Weibo account on Friday. An accompanying video on KFC’s Weibo account highlighted how far both brands had come since their humble beginnings when they first opened for business in 1987. KFC opened its first restaurant in... https://www.scmp.com/tech/social-gadgets/article/2102369/kfc-yes-kfc-selling-its-own-smartphones-china?utm_source=rss_feed https://www.scmp.com/tech/social-gadgets/article/2102369/kfc-yes-kfc-selling-its-own-smartphones-china?utm_source=rss_feed Wed, 12 Jul 2017 08:15:00 +0000 Taco Bell is running for the border. Yum! Brands Inc’s Mexican-themed restaurant chain will open at least 100 new locations each in China, Brazil, Canada and India during the next five years, according to a statement Thursday. The plan will help boost Taco Bell’s store count to 9,000 globally by 2022 from 6,650 now. “We’re really focusing in on four big countries,” Melissa Lora, president of Taco Bell International, said in an interview. “They’re big economies, they’re youthful... https://www.scmp.com/business/companies/article/2095755/taco-bell-opening-dozens-new-stores-china-india-and-other?utm_source=rss_feed https://www.scmp.com/business/companies/article/2095755/taco-bell-opening-dozens-new-stores-china-india-and-other?utm_source=rss_feed Thu, 25 May 2017 22:33:36 +0000 Yum China Holdings, the operator of KFC and Pizza Hut restaurant chains across the country, is buying a controlling stake in food delivery service provider Daojia, as it looks to boost sales by better serving customers who chose to eat at home. No figures were released by either side, but the transaction is expected to close this May, said Yum. Reuters reported in November, citing sources, that Yum China was in talk to buy Daojia for up to US$200 million. Daojia (到家), which also operates Sherpas... https://www.scmp.com/business/china-business/article/2094483/yum-china-buying-controlling-stake-home-delivery-service?utm_source=rss_feed https://www.scmp.com/business/china-business/article/2094483/yum-china-buying-controlling-stake-home-delivery-service?utm_source=rss_feed Tue, 16 May 2017 04:05:12 +0000 Call it St Elmo’s fried chicken. Actor Rob Lowe will debut as KFC’s new colonel on Sunday, the chain announced Friday. The Brat Packer turned “Parks and Recreation” star is the latest to don the white suit, black string tie goatee and black glasses of founder Colonel Harland Sanders, but in a spacesuit. Lowe won’t be promoting “West Wings,” but KFC’s Zinger chicken sandwich. “My grandfather was the head of the Ohio chapter of the National Restaurant Association in the 1960s and took me to meet... https://www.scmp.com/business/companies/article/2089679/brat-packer-and-actor-rob-lowe-new-pitchman-and-colonel-kentucky?utm_source=rss_feed https://www.scmp.com/business/companies/article/2089679/brat-packer-and-actor-rob-lowe-new-pitchman-and-colonel-kentucky?utm_source=rss_feed Fri, 21 Apr 2017 17:00:00 +0000 The parent company of KFC said it will stop buying chicken that is raised using antibiotics that are important to human medicine. The announcement by the giant chicken chain came after years of pressure from food safety and consumer advocacy groups, and two years after other food companies such as McDonald’s, Chick-fil-A, Pizza Hut and Taco Bell made similar pledges to phase out the use of products from animals treated with the antibiotics — a practise linked to the rise of “super bug” pathogens... https://www.scmp.com/news/world/article/2085924/kfc-chicken-chain-drop-buying-birds-pumped-full-antibiotics-used-human?utm_source=rss_feed https://www.scmp.com/news/world/article/2085924/kfc-chicken-chain-drop-buying-birds-pumped-full-antibiotics-used-human?utm_source=rss_feed Fri, 07 Apr 2017 17:45:45 +0000 An earlier version of this story misstated the number of Taco Bell locations planned for China. The goal is to reach 1,000 international locations by 2022. Taco Bell has entered a brave new world: China. The Doritos Locos taco inventor just unveiled a new store in in Shanghai, according to the Wall Street Journal, and the company is planning to open several more in other big Chinese cities in 2017 “to test the waters for a possible nationwide rollout.” This new push is a leap of faith for Yum... https://www.scmp.com/news/china/article/2061235/taco-bell-bets-big-china-unveiling-first-1000-locations-come?utm_source=rss_feed https://www.scmp.com/news/china/article/2061235/taco-bell-bets-big-china-unveiling-first-1000-locations-come?utm_source=rss_feed Wed, 11 Jan 2017 08:30:15 +0000 Taco Bell, which is making a return to China this year, is betting that the country wants quesadillas and tacos made with warm nacho-cheese sauce. The chain is adjusting its menu to meet local tastes, and that includes having the food be hotter when it arrives, said Shivram Vaideeswaran, the brand’s global marketing and innovation director. Americans were more forgiving than the Chinese about the temperature of their food, and the warm nacho-cheese approach had not been tried before, he said. In... https://www.scmp.com/news/china/economy/article/2028436/taco-bells-chinese-foray-test-appetite-nacho-cheese?utm_source=rss_feed https://www.scmp.com/news/china/economy/article/2028436/taco-bells-chinese-foray-test-appetite-nacho-cheese?utm_source=rss_feed Sat, 15 Oct 2016 16:51:11 +0000 Yum! Brands Inc., the fast-food giant that owns KFC, Pizza Hut and Taco Bell, had an unusual reason for its results falling short of expectations last quarter: the dispute over the South China Sea. After an international arbitration court invalidated Chinese claims to a wide swath of the region in July, consumers in the country lashed out against Western companies. That took a toll on Yum’s sales, Chief Executive Officer Greg Creed said on Wednesday. KFC in northern China targeted by protesters... https://www.scmp.com/business/companies/article/2025582/yum-blames-south-china-sea-battering-results-asia?utm_source=rss_feed https://www.scmp.com/business/companies/article/2025582/yum-blames-south-china-sea-battering-results-asia?utm_source=rss_feed Wed, 05 Oct 2016 22:49:39 +0000 Alibaba Group’s electronic payment unit and a private equity fund plan to make strategic investments in the China business of Yum Brands, which will be spun off as part of the parent’s plan to list the operation on the New York Stock Exchange. The spin-off and concurrent completion of the US$460 million investments in Yum China by Ant Financial Services Group and Primavera Capital Group are expected to take place on October 31, with Yum China to begin trading in New York on November 1, according... https://www.scmp.com/business/companies/article/2013137/yum-brands-spin-china-business-alibabas-payments-unit-primavera?utm_source=rss_feed https://www.scmp.com/business/companies/article/2013137/yum-brands-spin-china-business-alibabas-payments-unit-primavera?utm_source=rss_feed Fri, 02 Sep 2016 13:20:16 +0000 The man who brought Dorito-shelled tacos to America is rising to the top job at Yum Brands. Greg Creed, who has led the Taco Bell chain since early 2011, will replace David Novak as Yum's chief executive on January 1 next year, the company said on Thursday. Creed also will join the board, and Novak will become executive chairman. The move will give Yum, which also owns the KFC and Pizza Hut chains, a leader known for clever marketing and innovative new items at a time when fast-food chains are... https://www.scmp.com/business/companies/article/1502857/taco-bell-ceo-take-helm-yum-brands?utm_source=rss_feed https://www.scmp.com/business/companies/article/1502857/taco-bell-ceo-take-helm-yum-brands?utm_source=rss_feed Fri, 02 May 2014 20:00:52 +0000 KFC parent Yum Brands warned that it would take longer than expected for its restaurant sales in China to rebound, delaying a recovery in the market that accounts for more than half of the company's overall operating profit. Its New York-listed shares fell 7.5 per cent on Tuesday as investors digested the news, which came after months of Yum executives reassuring investors that restaurant sales in the country would return to growth in the fourth quarter. Yum's sales at established restaurants in... https://www.scmp.com/business/companies/article/1328180/kfc-parent-yum-brands-warns-china-sales-shares-slump-75pc?utm_source=rss_feed https://www.scmp.com/business/companies/article/1328180/kfc-parent-yum-brands-warns-china-sales-shares-slump-75pc?utm_source=rss_feed Wed, 09 Oct 2013 16:00:00 +0000 Yum! Brands Still reeling from accusations about food safety at KFC restaurants on the mainland, the US fast food conglomerate found another of its brands embroiled in controversy - Little Sheep, the Mongolian hotpot chain it bought in 2011. Branches of Little Sheep in Shanghai were found to have bought food from a supplier accused of labelling rat, fox, mink, duck and pork as mutton. The company has distanced itself from the franchisee which bought the tainted meat.   Joko Widodo The governor... https://www.scmp.com/comment/insight-opinion/article/1235673/bad-week-may-12-2013?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/1235673/bad-week-may-12-2013?utm_source=rss_feed Sat, 11 May 2013 16:00:00 +0000 Fast-food chain giant Yum Brands put its mainland expansion plan into high gear after setting a new goal to add 700 restaurants this year in the world's second-largest economy. That would be a record build-out for a single market in a year by the United States-based company - owner of the popular KFC and Pizza Hut dine-in chains - after it previously targeted 600 new store openings across the mainland. Chairman and chief executive David Novak told analysts in a conference call yesterday that... https://www.scmp.com/article/1007333/yum-ready-gobble-more-mainland-market?utm_source=rss_feed https://www.scmp.com/article/1007333/yum-ready-gobble-more-mainland-market?utm_source=rss_feed Fri, 20 Jul 2012 16:00:00 +0000 Fast-food chain giant Yum Brands will add at least 600 more outlets across the mainland this year on the back of continued strong sales growth in the world's second-largest economy. United States-based Yum Brands, owner of the popular KFC and Pizza Hut chains, launched on the mainland a record 656 new restaurants last year and posted a 21 per cent increase in same-store transactions - a measurement of revenue from stores opened for a year or more - during the same period. That resulted in a... https://www.scmp.com/article/992149/kfc-owner-set-grow-mainland?utm_source=rss_feed https://www.scmp.com/article/992149/kfc-owner-set-grow-mainland?utm_source=rss_feed Wed, 08 Feb 2012 16:00:00 +0000 Yum! Brands, the world's biggest operator of fast food restaurants, will complete its takeover and privatisation of Little Sheep Group next week after getting the go-ahead to withdraw the Chinese hotpot chain's shares from Hong Kong's main board. In a joint announcement yesterday, Little Sheep, Yum! Brands and its wholly owned subsidiary Wandle Investments said the Hong Kong stock exchange had approved the withdrawal of listing with effect from 4pm on February 2. United States-based Yum!... https://www.scmp.com/article/991039/little-sheep-dressed-yum-takeover?utm_source=rss_feed https://www.scmp.com/article/991039/little-sheep-dressed-yum-takeover?utm_source=rss_feed Thu, 26 Jan 2012 16:00:00 +0000 Hotpot chain Little Sheep jumped more than 15 per cent to an all-time high yesterday after the Chinese government gave the green light to a buyout bid by Yum! Brands. 'The government approval came much earlier than the market had expected, sharply pushing up the share price,' said Olive Xia, food and beverage analyst of Core Pacific-Yamaichi Securities. Hong Kong-listed Little Sheep rose to a record HK$6.40 just hours after it said early yesterday that the buyout proposal had been cleared by... https://www.scmp.com/article/984338/little-sheep-shares-fly-buyout-news?utm_source=rss_feed https://www.scmp.com/article/984338/little-sheep-shares-fly-buyout-news?utm_source=rss_feed Tue, 08 Nov 2011 16:00:00 +0000 Yum! Brands, the operator of KFC, Pizza Hut and Taco Bell restaurants, has stepped up efforts to reach a wider mainland audience by buying hotpot chain Little Sheep Group. The United States fast-food company plans to spend HK$4.4 billion to increase its holding in Little Sheep to 93.2 per cent from 27.2 per cent and take the Hong Kong-listed company private. It is offering HK$6.50 per share in a deal that values the hotpot chain at HK$6.7 billion. 'Yum! will help Little Sheep explore the... https://www.scmp.com/article/967635/yum-seeks-bigger-mainland-market-little-sheep-deal?utm_source=rss_feed https://www.scmp.com/article/967635/yum-seeks-bigger-mainland-market-little-sheep-deal?utm_source=rss_feed Fri, 13 May 2011 16:00:00 +0000 The Education of an Accidental CEO: Lessons Learned from the Trailer Park to the Corner Office by David Novak The story of David Novak, chairman and chief executive of US-based Yum Brands, which owns KFC, Pizza Hut and Taco Bell, is an inspiring one. In this memoir, the rags to riches executive details how he lived in 32 trailer parks in 23 states by the time he reached the seventh grade. He also describes his early career selling encyclopedias door to door, as a hotel night clerk, and took a... https://www.scmp.com/article/624302/take-two?utm_source=rss_feed https://www.scmp.com/article/624302/take-two?utm_source=rss_feed Fri, 25 Jan 2008 16:00:00 +0000