Yum China Soars as Weak Economy Drives Consumers to $2.80 Meals

(Bloomberg) — Yum China Holdings Inc. comparable sales beat estimates in the fourth quarter, as the fast-food operator rolls out new deals to lure cautious Chinese diners amid an economic downturn on the Chinese mainland.

Comparable sales were 4%, ahead of estimates of 3.24%. Adjusted earnings per share also topped expectations.

Revenue from its KFC restaurants was up 18% year-on-year to $1.87 billion, while Pizza Hut’s surged 23% to $496 million, the company reported.