Yum China’s revenue in the first quarter, the average profit, but the takeaway business growth is strong

Yum China’s revenue in the first quarter, the average profit, but the takeaway business growth is strong
On April 29th, KFC and Pizza Hut parent company Yum China released the first quarter of 2020 performance report, saying that affected by the epidemic, the company’s revenue and average profit price, but the takeaway business grew strongly.However, the pace of Yum! China ‘s leaders ‘expansion in China will not be affected. The company will continue to invest in new store openings and store renovations, maintaining the goal of opening 800-850 stores.The catering industry was severely hit by the epidemic, especially the dinning business.The financial report shows that in the first quarter of 2020, Yum! China’s system has dropped by 20% for ten consecutive years, and same-store sales have fallen by 15% year-on-year.6%; Pizza Hut, which focuses on casual and dinner scenes, is more severe, with same-store sales falling by 31%.Yum China stated that in the first three weeks of January 2020, its performance growth was strong, but the outbreak caused the company to reduce the same store by 40% -50%.In late January, the company began to close stores. During the peak of the epidemic in mid-February, about 35% of the stores were closed, and there were differences between different regions.As announced in the quarterly report, about 99% of domestic stores are partially or fully open. For restaurants in business hours and locations, due to shortened business hours and reduced traffic flow, the number of same stores is reduced, and most stores only provide take-out.However, Sauna and Yeewang noticed that Yum China ‘s food delivery business has grown to a certain extent. In the first quarter, the company increased by 40%, and the delivery business accounted for 35% of the company ‘s sales, an increase of 16%.In addition, the delivery of its own platform has played a key role in the development of this business, so growth has exceeded that of third-party platforms.With the alleviation of the epidemic situation, Yum China’s sales performance gradually resumed growth. Instead, the recovery progress in various places alternated, and residents’ dining out continued to change. Until the reporting date, the same store continued to decline by more than 10%.Yum China stated that the epidemic did not affect Yum China ‘s expansion rate. It was clearly mentioned in the first quarterly report that the company will continue to invest in new store openings and store renovations, maintaining the scale of 800-850 store opening targets announced at the last performance announcement.In the first quarter, KFC added 165 new stores, with a total of 6,661 stores; Pizza Hut added 11 new stores, with a total of 2,271 stores.In fact, Yum China stated that the epidemic highlighted the essence of online and offline business integration, and the company will continue to invest in digitalization, technology and supply chain.Sauna, Ye Wang Zhang Xiaorong Editor Peng Yali Proofreading Li Ming