Hotpot Tycoon Sees Fortune Drop $2.4 Billion After Earnings Outlook Disappoints

... [+]Zhang established Haidilao in 1994 in his hometown of Jianyang in Sichuan province with the help of three friends, including one who became his wife. The 51-year-old and his spouse have been serving as the chairman and director, respectively.

The hotpot chain built a reputation for putting a strong emphasis on customer service that includes activities like free manicures, shoulder massages and noodle-pulling demonstrations. Haidilao aggressively expanded its network in 2020 with the opening of 544 new restaurants in spite of the disruption to its operations caused by the pandemic. It now boasts of having a network of 1,298 restaurants, and 93% of them are located in mainland China. “It’s better to scale fast and be everywhere instead of having a single towering presence,” Zhang

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Hotpot Tycoon Sees Fortune Drop $2.4 Billion After Earnings Outlook DisappointsChinese restaurant chain Haidilao International said it will swing to a profit in the first half of the year, but the company’s stock still dropped almost 17% after revealing that its performance fell short of management’s expectations. Poor little baby...
Источник: Forbes - 🏆 394. / 53 Прочитайте больше »

Hotpot Tycoon Sees Fortune Drop $2.4 Billion After Earnings Outlook DisappointsChinese restaurant chain Haidilao International said it will swing to a profit in the first half of the year, but the company’s stock still dropped almost 17% after revealing that its performance fell short of management’s expectations. Poor little baby...
Источник: Forbes - 🏆 394. / 53 Прочитайте больше »