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Jun 30, 2021
Yum China Q2 2021 Earnings Report
Yum China's results improved, driven by new store openings, same-store sales growth, lower commodity prices and productivity improvements.
Key Takeaways
Yum China reported a strong second quarter with total revenues increasing by 29% year over year to $2.45 billion. System sales grew by 14%, and same-store sales were up by 5% in constant currency. The company opened 404 new stores, reaching a total of 11,023 stores.
Total revenues increased 29% year over year to $2.45 billion.
Total system sales increased 14% year over year, with increases of 14% at KFC and 16% at Pizza Hut, excluding F/X.
Same-store sales increased 5% year over year, with increases of 4% at KFC and 11% at Pizza Hut, excluding F/X.
Operating Profit increased 83% year over year to $233 million.
Yum China
Yum China
Yum China Revenue by Segment
Revenue by Segment
KFC Revenue
CapyFin.comPizza Hut Revenue
CapyFin.com Forward Guidance
Yum China is updating its fiscal year 2021 targets.
Positive Outlook
- To open approximately 1,300 gross new stores, an increase compared to the original target of 1,000, primarily due to the acceleration of KFC and Pizza Hut store expansion.
- To make capital expenditures of approximately $700-800 million, an increase compared to the original target of $600 million, as a result of additional new stores and stepped-up investment in infrastructure and digitalization.
Revenue & Expenses
Visualization of income flow from segment revenue to net income