Around the Net
Yum Brands To Grow In China
- QSR Magazine, Friday, February 10, 2012 9:22 AM
With more than half of Yum! Brands' profits now derived from stores in 73 emerging countries outside the U.S., Yum CEO David Novak said the company sees global growth as one of its biggest opportunities in 2012. Novak said that China in particular is “the best restaurant growth opportunity of the 21st Century."
Speaking to investors, Novak said Yum opened a record-breaking 656 new restaurants in China in 2011, helping usher in 19% same-store sales growth. The company's KFC brand has 3,701 restaurants in more than 700 Chinese cities, and continues to expand into new cities, he said.
