On August 6th, Yum! China released its Q2 2024 performance announcement.
In the second quarter of 2024, Yum! China's total revenue increased by 1% year-on-year to $2.68 billion, and operating profit increased by 4% year-on-year to $266 million. By the end of June this year, Yum! Brands had 15423 stores in China, including 10931 KFC stores and 3504 Pizzahut stores. This quarter saw a net increase of 401 stores, of which 99 were franchise stores, accounting for 25%.
Qu Cuirong, CEO of Yum! China, said, "We achieved our highest profit in the second quarter since going public. Despite facing a challenging industry environment, our core operating profit increased by 12%. We focus on providing cost-effective and innovative products and have achieved good results, driving strong growth in same store transaction volume. We have taken proactive measures to improve operational efficiency, stabilize restaurant profit margins, and achieve growth in operating profit margins