Retail in Asia

In Sectors

Yum Brands beats estimates as China sales jump

Yum Brands reported first-quarter earnings and revenue that exceeded Wall Street projections, pushed higher by an improving business picture in China.

The US-based restaurant chain’s net income, which includes one-time charges and other items, rose to USD241 million from USD218 million a year earlier.

Yum’s worldwide operating profit grew 13 percent prior to foreign currency translation, including a 37 percent surge in China and 2 percent international growth. However, the results were offset by a 9 percent decline in the US.

(Source: CNBC)