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

00:00

00:00/00:00

Listen to this article 1x

pictureRevenue from Yum China’s KFC restaurants was up 18% year-on-year to $1.87 billion in the fourth quarter of 2023. Photo: Bloomberg

(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.

You've accessed an article available only to subscribers

Subscribe today for just $.99.

VIEW OPTIONS

Share this article

Open WeChat and scan the QR code

GALLERY

: Gallery: Innovation Takes Off at Flying Vehicle Expo

PODCAST

Caixin Deep Dive: How China’s Crypto Ban Makes Disposing of Seized Assets a Lot Harder

00:00

00:00/00:00

MOST POPULAR

1: Cover Story: China’s Factory Exodus Is Turning Vietnam Into the World’s Assembler

2: Meituan Enters Open-Source AI Race With LongCat Model

3: Ex-UBS Banker in Hong Kong Jailed 10 Years for Laundering $17.2 Million

4: Alipay Fined by Luxembourg Regulator for Anti-Money Laundering Breaches

5: End of U.S. Tax Exemption Hits Chinese Air Cargo Carriers Differently