Yum China Reports First Quarter 2021 Results
Yum China Holdings reported unaudited results for the first quarter ended March 31, 2021.
Impact of COVID-19 Outbreak and Mitigation Efforts
Yum China reported substantial year-over-year growth in the first quarter, as the Company began to lap prior year periods that were impacted by COVID-19. System sales growth was mainly attributable to same-store sales growth, new unit contribution and substantially fewer temporary store closures. Operating Profit growth was further driven by lower commodity prices and productivity gains.
First quarter sales were impacted by regional resurgences of COVID-19 before the Chinese New Year and tightened public health measures across China. The tightened measures and...
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