A Slowing Chinese Economy Puts a Slight Damper On Yum China
The headlines may seem grim right at the moment, but China's emerging middle class is still riding upward momentum. Trade wars compounding an already slowing economy have certainly taken their toll, but the country's largest restaurant operator, Yum China (NYSE: YUMC) -- sole licensee of KFC, Pizza Hut, and Taco Bell from former parent Yum! Brands (NYSE: YUM) -- provides proof that the consumer across the Pacific is still doing just fine.
During the third quarter of 2019, revenue grew 5% year over year, or 8% when excluding exchange rates from a strong U.S. dollar and correspondingly weak Chinese renminbi. With operating expenses being held in check again, operating profit and earnings per share increased 11% and 14%, respectively, compared with the same period in 2018.
Here's the picture paired with the first half of the year:
Source Fool.com
