Yum! Brands China's total revenue reached a new high in the first quarter, with an expected net increase of 1500 to 1700 stores within the year
吖咩嘚咩s
发表于 2024-4-30 17:01:53
1199
0
0
On April 30th, Hong Kong listed company Yum! Brands China disclosed its performance for the first quarter of 2024. During the reporting period, the company's total revenue reached a historic high of 2.96 billion US dollars; The core operating profit continued to grow despite last year's high base, reaching 396 million US dollars.
In the first quarter, Yum! Brands China accelerated its expansion of stores, adding a net of 378 new stores, bringing the total number of stores to 15022. It is reported that two-thirds of the company's new stores during the period will adopt a smaller store model. For example, KFC has developed a small town mini store model specifically for lower tier cities, reducing the capital expenditure of each store to below 500000 yuan through simplified menus and optimized equipment.
Pizzahut has developed a "boutique" store model that pays more attention to the catering business, providing more menu choices, and complementing Pizzahut's "satellite store". Yum! Brands China reported that "Jingchuang Store" has performed well, allowing the company to more flexibly enter smaller cities to expand its business.
Yum! Brands China stated that while accelerating store opening, the company's new store investment returns are good. KFC's return on investment cycle is kept at 2 years, and Pizzahut's return on investment cycle is 2-3 years.
Over the past decade, Yum! Brands China's takeout sales have achieved double-digit growth every year. Thanks to the reduction of delivery fees, Yum! China's delivery business sales increased by 12% in the first quarter, accounting for 38% of KFC's and Pizzahut's sales.
Looking ahead to 2024, Yum! Brands China is expected to add a net of 1500 to 1700 new stores, with a strong growth momentum in the number of stores. The company is confident in achieving its target of 20000 stores by 2026. At the same time, the company will increase shareholder returns by providing at least $1.5 billion in quarterly cash dividends and stock buybacks to shareholders.
Qu Cuirong, CEO of Yum! Brands China, said that the company is very confident in seizing the huge opportunities in the Chinese market. Through flexible store formats, strategic franchises, and excellent products at different prices, the company will continue to expand its potential market.
Logomoney.com is an information publishing platform that only provides information storage space services.
Disclaimer: The views expressed in this article are those of the author only, this article does not represent the position of CandyLake.com, and does not constitute advice, please treat with caution.
Disclaimer: The views expressed in this article are those of the author only, this article does not represent the position of CandyLake.com, and does not constitute advice, please treat with caution.
You may like
- China may support Tesla's testing of "unmanned driving rental"
- Domestic new cars such as Ford Liema and Mustang have been launched successively. Ford's export business in China increased by 34% in the first quarter
- Musk's Flash: Tesla's Market Value in China Soars Over Trillion
- Chip Battlefield | Intel's Latest Statement: Revocation of Export License for a Chinese Customer Will Affect Q2 Revenue
- BeiGene: First quarter loss of 1.908 billion yuan
- Global Finance: Chinese electric vehicle brand Jike is listed on the New York Stock Exchange
- Extreme Krypton rings the bell to go public on the New York Stock Exchange, breaking the record for the fastest Chinese new energy vehicle company to go public in the United States
- Is the Chinese version here? Apple Vision Pro has passed China 3C certification
- Chinese autonomous driving technology supplier Hesai Technology sues US Department of Defense
- Microsoft responds to rumors that the AI team in China is "packing up for the United States": some employees can choose international rotation or work in their current positions
-
The Dow Jones Industrial Average fell on Monday this week, regretfully ending its longest consecutive rise this year (eight consecutive gains). However, for Wall Street, the overnight market is clear ...
- zwm532018
- 3 Dayago
- Up
- Down
- Reply
- Favorite
-
On May 14th, according to the reference news website citing Bloomberg News, LiDAR manufacturer Hesai Technology Co., Ltd. sued the US Department of Defense for including the company in the list of co ...
- tongcdq
- 3 Dayago
- Up
- Down
- Reply
- Favorite
-
According to a notice issued by Tesla to relevant US government agencies on May 13th local time, Tesla plans to lay off an additional 601 employees in California. Tesla announced last month that it w ...
- yy2433480
- day before yesterday 09:03
- Up
- Down
- Reply
- Favorite
-
The US stock market closed higher, with the Dow Jones Industrial Average up 0.88%, the Nasdaq up 1.40%, and the S&P up 1.17%, all three major indexes reaching historic highs; Large tech stocks genera ...
- hanko
- Yesterday 22:07
- Up
- Down
- Reply
- Favorite