SHANGHAI, May 31, 2024
/PRNewswire/ -- Yum China's Chinese
Dining Business Unit – which includes the Little Sheep and Huang Ji
Huang brands – made exciting new progress since the beginning of
2024, with new stores added to its domestic and global portfolio
and innovative new store formats introduced to serve a broader
range of party sizes.
In May 2024 alone, nine new Little
Sheep stores were added in multiple first-, second-, and third-tier
cities across China. Internationally, Little Sheep recently
returned to the U.S. market in March
2024 with a new store at the American Dream Meadowlands
shopping complex in East Rutherford, New
Jersey. Domestically, Little Sheep introduced new store
formats, including one-person hotpot modules which cater to smaller
party sizes.
Huang Ji Huang is also poised to extend its presence both within
China and across international markets this year. Earlier this
month, Huang Ji Huang announced its new logo, updated store design
and brand strategy, to help reinforce its positioning as an
industry-leader in the simmer pot category and drive further
interest among younger consumers.
The Little Sheep and Huang
Ji Huang brands mark their 25th and 20th
anniversaries respectively this year. Under Yum China's Chinese Dining Business Unit, both
brands benefit from enhanced economies of scale and stronger food
innovation capabilities which help to achieve a high standard of
customer experience and operating efficiencies. Yum China expects its Chinese dining store count
to reach approximately 800 by the first half of 2024.
Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. We intend all
forward-looking statements to be covered by the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements generally can be identified by the fact
that they do not relate strictly to historical or current facts and
by the use of forward-looking words such as "expect,"
"expectation," "believe," "anticipate," "may," "could," "intend,"
"belief," "aim," "plan," "estimate," "target," "predict,"
"project," "likely," "will," "continue," "should," "forecast,"
"outlook," "look forward to" or similar terminology. These
statements are based on current estimates and assumptions made by
us in light of our experience and perception of historical trends,
current conditions and expected future developments, as well as
other factors that we believe are appropriate and reasonable under
the circumstances, but there can be no assurance that such
estimates and assumptions will prove to be correct. Forward-looking
statements are not guarantees of performance and are inherently
subject to known and unknown risks and uncertainties that are
difficult to predict and could cause our actual results or events
to differ materially from those indicated by those statements. We
cannot assure you that any of our expectations, estimates or
assumptions will be achieved. The forward-looking statements
included in this press release are only made as of the date of this
press release, and we disclaim any obligation to publicly update
any forward-looking statement to reflect subsequent events or
circumstances, except as required by law. All forward-looking
statements should be evaluated with the understanding of their
inherent uncertainty. You should consult our filings with the
Securities and Exchange Commission (including the information set
forth under the captions "Risk Factors" and "Management's
Discussion and Analysis of Financial Condition and Results of
Operations " in our Annual Report on Form 10-K and subsequent
Quarterly Reports on Form 10-Q) for additional detail about factors
that could affect our financial and other results.
About Yum China Holdings, Inc.
Yum China is the largest
restaurant company in China with a
mission to make every life taste beautiful. The Company has over
400,000 employees and operates over 15,000 restaurants under six
brands across more than 2,000 cities in China. KFC and Pizza Hut are the leading
brands in the quick-service and casual dining restaurant spaces in
China, respectively. In addition,
Yum China has also partnered with
Lavazza to develop the Lavazza coffee concept in China. Little Sheep and Huang Ji Huang
specialize in Chinese cuisine. Taco Bell offers innovative
Mexican-inspired food. Yum China has
a world-class, digitalized supply chain which includes an extensive
network of logistics centers nationwide and an in-house supply
chain management system. Its strong digital capabilities and
loyalty program enable the Company to reach customers faster and
serve them better. Yum China is a
Fortune 500 company with the vision to be the world's most
innovative pioneer in the restaurant industry. For more
information, please visit http://ir.yumchina.com.
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SOURCE Yum China Holdings, Inc.
