What to watch for this week:
McDonald's full-year 2023 net profit increased by 37% year-on-year
2.Yuan Kee Food sub-brand "Yuan Xiao Dumpling".There are more than 800 stores nationwide
The total number of Yum stores in China exceeds 14,000
4.Subway for the first time in 7 yearsAchieve a net increase in the number of stores
5.HeyTea Tea Fang's first store in Shanghai opened
Luckin x Yuanmengxing launched a new co-branded product
McDonald's fine-tunes burgers in multinational markets
On Feb. 5, McDonald's (NYSE:MCD) announced its results for the fourth quarter and year ended December 31, 2023. According to the announcement, McDonald's annual sales in 2023 will be $25.4 billion, a year-on-year increase of 10%; Net profit was 84US$600 million, a year-on-year increase of 37%. Global sales for the fourth quarter of 2023 were 64US$100 million, an increase of 8% year-on-year; Net profit was 20$400 million increased 7% year-over-year, and global same-store sales increased 34%, with growth in all segments.
In terms of the Chinese market, as of December 31, 2023, McDonald's China had 5,903 stores, with 925 new stores added throughout the year, achieving the annual target of 900 stores, reaching a record high, and contributing 67% of the new stores in the international franchise market division. (Red Meal Network).
Yuan Kee Food sub-brand "Yuan Xiao Dumpling".
There are more than 800 stores nationwide
Recently, Yuan Lianghong, chairman of Yuan Ji Food Group, announced that in March 2024, Yuan Ji Food Group will build the headquarters and production base of the brand "Yuan Xiao Dumpling" in Changsha and Yiyang, Hunan Province, respectively, which are planned to be completed within three years, with a total investment of 6500 million yuan. It is understood that Yuan Xiaojiao is positioned as a new Chinese trendy brand of fresh dumplings, including dumplings, wontons, noodles and snacks, and the first store will open in 2020. Yuan Xiaodumpling focuses on more affordable customer orders, lower franchise thresholds and more flexible store types, focusing on the sinking market, and currently has more than 800 stores across the country. (Interface News).
The total number of Yum stores in China exceeds 14,000
On February 7, Yum China (HK:09987) announced its financial results for the fourth quarter and full year 2023. According to the announcement, the company's total revenue in 2023 will be 109$800 million, up 15% year-over-year, and system sales increased 21% year-over-year. Operating profit increased 76% to $1.1 billion. Net profit was 8$2.7 billion, an increase of 87% over the same period last year.
In addition, the company added 542 net stores in the fourth quarter, bringing the total number of stores to 14,644 as of December 31, 2023. Among them, the number of KFC stores reached 10,296, and the number of Pizza Hut stores reached 3,312, and the company expects to reach the goal of 20,000 stores in 2026. (Red Meal Network).
Subway for the first time in 7 years
Achieve a net increase in the number of stores
In 2023, Subway's global same-store sales reported positive growth for 12 consecutive quarters and achieved the first net increase in the number of restaurants worldwide since 2016. To date, Subway has nearly 37,000 restaurants worldwide, of which approximately 23,000 are located in North America. Subway previously said it will open more than 1,000 new restaurants around the world from early 2022 to mid-2023 and hopes to open 35% more new stores in North America in 2023 than in 2022. (36 Krypton).
HeyTea Tea Fang's first store in Shanghai opened
On February 6, Heytea officially said that the first store of Heytea Tea Fang in Shanghai has officially landed in Shanghai Global Harbor, and on the basis of the original freshly extracted high-quality tea products, it has simultaneously launched 5 new products, including two new tea bases of Butterfly Love Flower and Magnolia. In order to celebrate the opening, Shanghai HeyTea Tea House has launched a buy-one-get-free online signature product.
1. Product experience activities such as gifts around the tea house attract consumers to check in and consume in the store. (Heytea brand).
Luckin x Yuanmengxing launched a new co-branded product
"New Year Golden Dragon Latte".
On February 4th, Luckin Coffee officially announced two new New Year's special drinks co-branded with the game Dream Star'"Chinese New Year Golden Dragon Latte" and "Chinese New Year Red Dragon Latte", and opened 15 Yuanmengxing co-branded theme stores across the country, and at the same time also launched limited co-branded stickers and Yuanmengxing plush doll pendants and other peripherals. (Luckin brand).