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Yum China Holdings Inc. YUMC, -1.05% shares fell more than 5% in the extended session Tuesday after the owner of Pizza Hut, KFC and other fast-food brands in China missed Wall Street expectations for its third quarter, saying that “softening consumer demand” emerged in recent weeks. Yum China earned $244 million, or 58 cents a share, compared with $206 million, or 49 cents a share, in the year-ago period.
Yum China's (YUMC) third-quarter 2023 results are likely to reflect increasing same-store sales, thanks to its focus on unit expansions, menu innovation, digital advancements and enhancing delivery capabilities.
Yum China (YUMC) focuses on geographic-specific deals to attract new members and increase existing customer spending. However, inflationary pressures are a concern.
A recent article in Barron's about Chinese households opting to save rather than spend suggested that the country would have difficulty pulling out of the economic tailspin it's been in since the pandemic began in early 2020. That's terrible news for Chinese stocks.
SHANGHAI , Sept. 21, 2023 /PRNewswire/ -- Yum China Holdings, Inc. (NYSE: YUMC and HKEX: 9987, "Yum China" or the "Company") today announced that it will report its unaudited financial results for the third quarter ending September 30, 2023 at 4:30 p.m.
Yum China's (YUMC) emphasis on the 'RGM 2.0' strategy will drive growth. Also, focus on flexible store formats and proactive cost management bode well.
Yum China (YUMC) anticipates rapid store expansion through 2026, backed by flexible store formats, healthy new store payback periods and a strong store pipeline.
Yum China (YUMC) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.
Yum China is spending more on tech, an investment that's allowed it to open more stores without having to hire more staff, CEO Joey Wat told CNBC.
Joey Wat, chief executive officer of Yum China Holdings Inc. which operates KFC, Pizza Hut and Taco Bell restaurants in China, discusses her growth strategy. Yum China said this week the company is accelerating store expansion as the business environment becomes more predictable than during the pandemic.