Yum Brands to Open More Outlets in China
Yum Brands Inc., operator of the Taco Bell, Pizza Hut and KFC restaurant chains, plans to open 300 restaurants a year in China, its fastest-growing market.
Yum is focusing its expansion in Asia. China will overtake the U.S. in sales for Yum at some point, Chief Executive David Novak said.
China is already the Louisville, Ky.-based company’s second-biggest market in terms of profit, the company has said. Yum has more than 1,200 stores in China, led by KFC locations.
Shares of Yum fell 35 cents to $45.79 on the NYSE.