Yum China Reports Second Quarter 2022 Results
Yum China Holdings, Inc. today reported unaudited results for the second quarter ended June 30, 2022.
Impact of COVID Outbreak and Mitigation Efforts
The most severe COVID outbreaks to date in China continued to significantly affect the restaurant industry and our operations in the second quarter. According to government statistics, the restaurant industry in China experienced a revenue decline of approximately 16% year over year in the quarter.
- Nationwide, regional COVID outbreaks impacted large portions of the country. During peak outbreak periods, hundreds of millions of people were in some type of lockdown...
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