,China
1 view

KFC, Pizza Hut sales in China down 4% in 2020

Yum China said performance was impacted by regional resurgences of COVID-19.

KFC and Pizza Hut saw same-stores decline in China in 2020, attributed to regional outbreaks of COVID-19.

Same-store sales declined 9% year over year, with declines of 8% at KFC and 14% at Pizza Hut.

Total revenues declined 6% year over year to $8.26 billion from $8.78 billion whilst total system sales declined 5% year over year, with declines of 5% at KFC and 15% at Pizza Hut.

Restaurant margin was 14.9%, compared with 16.0% in the prior year, primarily attributed to lower commodity prices, relief provided by landlords and government agencies, and other store cost savings.

Yum China opened 1,165 new stores during the year, bringing total store count to 10,506 across more than 1,500 cities.

The company expects to approximately open 1,000 new stores and make capital expenditures of approximately $600 million.

“Our confidence in the long-term potential of China is unshaken. We are focused on growing our store footprint and developing our emerging brands. We will also step up investment in digitization and infrastructure to create an even stronger foundation to accelerate expansion,” Yum China CEO Joey Wat said in a media release.

Get QSRMedia Asia in your inbox
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

The country’s health ministry said the government will review the measures in two weeks.
The upcoming opening will also be the brand’s Southeast Asian debut.
The commemorative store is located on Des Voeux Road in Central.
A portion of the profits from this collection will support healthcare workers who are impacted by COVID-19 through the Thai Red Cross Society.
The fast food conglomerate partnered with DoubleDragon Properties Corporation.
Deliveroo customers will be the first to avail of the item
Restaurants' sales were up 89.5%.
The group said take-out sales and government subsidies helped.
Delivery Hero has been trying to sell Yogiyo in order to acquire Woowa Brothers.
The outlet features a 168-seater space with 9 food stalls. 
There are currently 16 Shacks open in the market.