Beijing Daily Client | Reporter Yuan Lu
On November 2, Yum China released its third-quarter financial report, with a total quarterly revenue of US$2.68 billion. increased by 5% year-on-year. After deducting the factors influencing in , the actual growth was 11%. Net profit was US$206 million, an increase of 98% from the same period last year.
Yum China said that it opened 403 new stores in the third quarter of this year, with a net addition of 239 stores, which was mainly driven by the development of the brand of KFC and Pizza Hut , and 99 stores were renovated in the third quarter. As of September 30, 2022, the total number of stores reached 12,409.
CEO Qu Cuirong Ms. Qu said that Yum China currently has more than 400 million members and still has huge potential to be explored. Financial report shows that as of the third quarter of this year, takeaway revenue accounted for about 38% of the revenue of KFC and Pizza Hut, an increase of about 4 percentage points from the same period last year. Yum China said that due to the impact of the new crown epidemic, the dine-in volume has continued to decline, and takeout is still a popular dining option. Digital orders (including takeaway orders, mobile orders and orders for orders) account for about 91% of the revenue of KFC and Pizza Hut.
Recently, McDonald's disclosed its third-quarter financial report, with revenue in the third quarter of US$5.87 billion, a year-on-year decline of 5%; net profit was US$198,000, a year-on-year decline of 8%. In terms of segmented revenue, the self-operated international market fell 30% year-on-year in the third quarter, and international development licensing and associate businesses (mainly the Chinese and Japanese markets, etc.) increased by 13% year-on-year.
McDonald's said in its outlook this year that the Chinese market is still full of huge challenges due to the epidemic, but it is expected that about 800 new stores will be opened this year, setting a record high. We are still optimistic about the prospects of the Chinese market and look forward to a certain improvement in the market situation in 2023.
Image source: Yum China
