China
Yum China's net income surged 41% to $288m in Q1
Its total system sales grew 6%, with 9% rise at KFC partially offset by 1% decline at Pizza Hut.
Yum China's net income surged 41% to $288m in Q1
Its total system sales grew 6%, with 9% rise at KFC partially offset by 1% decline at Pizza Hut.
Starbucks China's net revenue grew 54% to $1,186.4m in Q2
It is driven by incremental revenues from the impact of the ownership change in East China.
Weekly Global News Wrap: Starbucks to close 8,000 US sites to conduct racial bias training; Chipotle eyes breakfast to drive sales; Retail Food Group to expand Gloria Jean's in Germany
Here is a summary of the most interesting QSR news stories of the week from around the world.
Starbucks poised to lead the coffee industry in China
The number of stores in China has grown from 800 to 3,200 in the past five years, with an average of one new store opening every 15 hours.
Alibaba acquires Chinese delivery startup Ele.me in $9.5b deal
It plans to expand in China’s fast-growing market for local delivery of food and other services.
BreadTalk forms joint ventures to operate bakeries in China
The joint ventures will run Wu Pao Chun bakeries in Beijing, Shanghai, Shenzhen and Guangzhou.
Marine Harvest to open 2,000 salmon-only fast food outlets in China
It believes this will help expand demand for the farmed fish among the country’s growing middle class.
TenRen Tea to open further eight sites by 2020
It plans to use the 65.6% of IPO proceeds to open new outlets and widen its retail footprint.
KFC China launches cultural-themed restaurants in 18 cities
It hopes to bolster customers' cultural experiences in their restaurants through technology.
Yum China's net income crashed 20% in 2017
For the fourth quarter, Yum's operating profit rose by 23% to $71 million.
McDonald's rolls out flagship 'future' store in Guangzhou
With a goal of creating a new customer-centric, digital-driven dining experience, the Victoria Square restaurant features new eight 'future' elements. These include buffet ordering, special menu, delivery to the table, newly-integrated McDonald's App, WeChat applet member points, mobile payment, two-point counter, and electronic dining cards.
Starbucks China posts record revenue of $6 billion in Q1
The coffee behemoth delivered solid profit growth and its first ever $6 billion revenue quarter in Q1.
McDonald's in Shanghai denies allegations of food contamination
It follows the claims that food in two of its sites were said to contain diethylhexyl phthalate (DEHP).
Yum China outlines strategic plans for growth
It will focus on store refurbishments, menu innovation, as well as development in the digital space.
Starbucks unveils multi-sensory retail experience in the first Shanghai Roastery
The launch of the Roastery will see the debut of Italian artisan Rocco Princi bakery and Teavana bar in China.
Starbucks launches new store in China every day
According to news sources, Street analysts are worried about cannibalization.
Jollibee halts operation of hotpot chain in Shanghai
It has shut 16 stores under the 12 Hotpot brand to concentrate on larger ventures in China.
