logo |

News

    Home   >     Industry    >     Main body

    Yum China says seeing early signs of recovery from COVID-19 fallout

    Abstract:Yum China Holdings Inc <YUMC.N> said on Monday its business was in the early stages of recovery, weeks after the fast-food chain operator had to close over a third of its outlets at the peak of the coronavirus outbreak, which ori

      (Reuters) - Yum China Holdings Inc (YUMC.N) said on Monday its business was in the early stages of recovery, weeks after the fast-food chain operator had to close over a third of its outlets at the peak of the coronavirus outbreak, which originated in the country.

      Yum China, the exclusive licensee of the KFC, Pizza Hut and Taco Bell brands in China, said it was gradually reopening stores in the country, adding that 95% of its outlets were open either partially or fully.

      Same-store sales were recently down about 20%, the company said, better than the 40%-50% decline it witnessed during the Chinese New Year holiday period, earlier this year.

      Yum China said traffic at open stores was recovering slowly, but remained well below pre-outbreak levels.

      It said delivery sales grew year over year, driven by the launch of contactless delivery late in January. It also added contactless pick-up and corporate catering services as sanitary options for consumers and corporate customers.

      The declining number of coronavirus cases in China has encouraged some consumers to venture back into malls and restaurants even as shops shut their doors across Europe and the United States.

      The pandemic, which has infected more than 80,000 people in China and killed over 3,200, had kept hundreds of millions stuck at home since late January. Mainland China on Monday reported a drop in its daily tally of new coronavirus cases, reversing four straight days of increases.

      Yum China was spun off from Yum Brands Inc (YUM.N) in 2016 and operates over 8,900 restaurants in more than 1,300 cities in the Asian country.

    Latest News

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand
    Current Rate  :
    --
    Amount
    United States Dollar
    Convertible Amount
    -- United States Dollar
    Risk Warning

    The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.

    Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click "Complaints "and "Correction" to inform us. We will check immediately and release the results.

    Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

    Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.

    ×

    Select Country/Area