YUMC - KFC China hits milestone store count in Shanghai

2023-07-12 06:47:45 ET

Yum China Holdings ( NYSE: YUMC ) announced that KFC China has celebrated the opening of its 500 ^th store in Shanghai.

The fast-food chain opened its first store in Shanghai at the Dongfeng Hotel on the Bund in 1989.

"We are thrilled to reach this remarkable milestone in Shanghai, which is not only China's largest consumer market, but also home to Yum China's operating headquarters," said CEO Yum China ( YUMC ) Joey Wat, CEO of Yum China.

KFC said it is committed to promoting positive social change and the 500 ^th KFC store in Shanghai has some unique features, including a partnership with a local library and an initiative with the Pudong New Area Disabled Persons' Federation.

Overall, KFC is noted to be the leading and largest quick-service restaurant brand in China, with over 9,200 stores in 1,800 cities across China as of March 2023.

Shares of Yum China ( YUMC ) are down 4% over the last six months and trade right at their 200-day moving average.

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