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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...
Yum China Expands Share Repurchase Authorization by $1 Billion
Yum China Holdings, Inc. today reported that its Board of Directors (the "Board") has increased the Company's share repurchase authorization by $1 billion to an aggregate of $2.4 billion.
From 2017 to March 16, 2022, the Company repurchased approximately 24 million shares of common stock for $971 million, including approximately 4 million shares repurchased for $188 million quarter-to-date 2022. This increase brings the total remaining authorization to approximately $1.4 billion.
"The Board's approval to expand our share repurchase program reflects the strength of..."
Yum China Reports Fourth Quarter and Full Year 2021 Results
Yum China Holdings, Inc. today reported unaudited results for the fourth quarter and year ended December 31, 2021.
Impact of COVID-19 Outbreak and Mitigation Efforts
Multiple waves of Delta variant outbreaks persisted throughout the fourth quarter, spreading to nearly all provinces in China. Case counts in the fourth quarter were the highest since the first quarter of 2020. These widespread outbreaks resulted in more stringent public health measures nationwide in pursuit of a zero-COVID-19 case goal. These preventive measures, which include mass testing, regional lockdowns and travel...
Yum China's New Green Marketing Campaigns Advocate Sustainability and Eco-Conscious Living
Yum China Holdings, Inc. announced that KFC China is introducing a series of green marketing campaigns to promote more sustainable lifestyles and increase consumer awareness of eco-friendly behavior.
"Leveraging our strong online and offline connections with consumers, we hope to increase environmental awareness among the public by encouraging and rewarding more eco-friendly choices," said Joey Wat, CEO of Yum China. "In the future, we will explore more innovative ways to motivate consumers and other stakeholders to join us on our journey to drive meaningful change and..."
Yum China Inaugurates Digital R&D Center to Further Implement Digital Strategy
Yum China Holdings, Inc. announced the opening of its Digital R&D Center with three sites in Shanghai, Nanjing, and Xi'an. The inauguration of the Digital R&D Center represents an important milestone for the Company's strategy to build a dynamic digital ecosystem comprised of 1) the Digital R&D Center, 2) joint venturing, and 3) third party collaboration, to provide a solid foundation for Yum China to further develop its brands and businesses, accelerate expansion and capture market opportunities.
The Digital R&D Center will consolidate and...
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