Yum China reports Q3 SSS up 4%

Same-store sales increased 4% year over year, with increases of 4% at KFC and 2% at Pizza Hut in constant currency. Opened 500 net new stores during the quarter; total store count reached 14,102, as of September 30, 2023. Total system sales increased 15% year over year, with increases of 15% at KFC and 13% at Pizza Hut in constant currency. Growth was mainly attributable to new unit contribution, same-store sales and lapping of temporary closures in the prior year. Restaurant margin was 17.0%, compared with 18.8% in the prior year period, mainly due to lapping of austerity measures and temporary relief in the prior year.