-- Yum China Holdings Inc. which operates KFC, Pizza Hut and Taco Bell restaurants in China, is accelerating store expansion as the business environment becomes more predictable than during the pandemic.
The shares rose 4.8% in Hong Kong Thursday after the company unveiled a target of high-single to double-digit sales growth in the next three years and double-digit earnings per share growth. Marketing campaigns such as KFC’s Crazy Thursday, which offers chicken nuggets at 9.9 yuan and a whole chicken at 29.9 yuan, are designed to capture consumers who have been more hesitant to spend amid the economic slowdown. Investment in digitalization and automation will also help improve efficiency and reduce costs, said Wat.