SHANGHAI : KFC operator Yum China Holdings is focusing its store expansion efforts in China on smaller cities, as demand there has recovered from the pandemic much quicker than that in the country's major centres, its chief executive said on Thursday.
Yum China's Chief Executive Joey Wat, however, told Reuters in an interview on Thursday that the company was targeting such areas as their residents had larger disposable incomes versus those of larger cities, such as Beijing and Shanghai, and were willing to spend more. Yum China warned last week that adjusted operating profit would take a 50per cent to 60per cent hit in the third quarter as the spread of the Delta variant in China caused more than 500 of its restaurants to temporarily close or only do take-away business.
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