Yum China sales boosted by record breaking restaurant quarter opening

The company opened a total of 378 restaurants in the first quarter of 2024.

Yum China Holdings, Inc reported total system sales growth of 6% year-on-year, driven by contributions from its newly opened restaurants.

The Shanghai-based fast food holding company opened a record first quarter opening 378 restaurants. The company now has a total of totalling 15,022 restaurants by the quarter ending 31 March. The company has a total of 10,603 KFC restaurants and 3,425 Pizza Hut restaurants.

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Same store sales reached 97% of last year’s strong performance whilst total revenues increased 1% YoY to $2.96b.

"Operating under a near-term challenging environment, we will remain laser-focused on understanding and capturing the evolving needs of consumers to continually connect with them. Looking toward the future, we are absolutely confident in seizing China's vast opportunities. We are expanding addressable market through a multifaceted approach with flexible store formats, strategic franchising and a range of exciting products across price points. With these actions underway, we believe we are well-poised to sustain strong growth and create long-term value for our shareholders,” Joey Wat, CEO of Yum China said.