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.
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.
Yum China Holdings said its earnings in the three months ended June 30 came to US$83 million, down 54 per cent from the same period last year after stringent pandemic measures barred diners.
The plan relegates the CSRC to the back seat in the auditing dispute between the US and China, from the role it has held since 2016 as the collector and gatekeeper of China’s audit working papers.
She saved the UK’s struggling cosmetics chain Savers, then she maximised profits at KFC China – but how did the millionaire and Fortune 500-listed CEO get where she is today?
HKMA forced to intervene to weaken currency 15 times in September as hot money chases hot Chinese IPOs, secondary listings in the city.
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.
Yum China, the operator of KFC, Pizza Hut and Taco Bell in mainland China, is the latest US-listed firm to raise capital in Hong Kong.
The secondary listing of Yum China, the operator of KFC, Pizza Hut and Taco Bell, could come as soon as September, a source says.
Beyond Burgers will be introduced as a limited-time offering at select KFC, Pizza Hut and Taco Bell locations in mainland China, Yum China Holdings says.
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.
Yum China Holdings Inc is working with China International Capital Corp and Goldman Sachs 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.
Fast-food chain working with meat substitute company Beyond Meat for one-day trial that could see item appear on menus across the United States.
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.
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.
Still reeling from accusations about food safety at KFC restaurants on the mainland, Yum! Brands found another of its brands embroiled in controversy - Little Sheep, the Mongolian hotpot chain it bought in 2011.