YUMC - Yum China Expands To Lower-Tier Cities To Drive Growth Amid Growing Consumer Caution
2024-02-07 09:20:00 ET
Summary
- Yum China’s revenue grew 21% in both the fourth quarter and for all of 2023, as it opened a record of nearly 1,700 new stores last year.
- The master franchisee for KFC and Pizza Hut restaurants in China had 14,644 stores at the end of last year and reiterated its plan to raise that to 20,000 by 2026.
- To drive incremental traffic and grab new consumers, Yum China has been broadening the overall price band for its products, with a focus on appealing to more value-oriented customers at the lower end of its range.
The operator of KFC and Pizza Hut restaurants in China posted 21% revenue growth last year, led by aggressive new store opening and price-widening campaigns to capture new customers ...
Yum China Expands To Lower-Tier Cities To Drive Growth Amid Growing Consumer Caution