Shares of restaurant operator Yum China (NYSE:YUMC) are rising in the pre-market session today on the back of its third-quarter showing.
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Revenue rose 5.1% year-over-year to $2.68 billion. EPS at $0.49 cruised past estimates by $0.18. Further, the company’s operating profit surged by 77% to $316 million on strong execution.
Yum has opened 612 net new stores so far this year and remains on track to open 1000 to 1200 net new stores for the full year.
While same-store sales remained flat, Yum navigated strict COVID-19 restrictions and captured higher demand for delivery and take-away in the face of lower dine-in demand during this period.
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