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Yum China warns quarterly profit to take over 50% hit due to Delta variant

(Reuters) -KFC operator Yum China Holdings (NYSE:YUMC) Inc said on Tuesday its adjusted operating profit would take a 50% to 60% hit in the third quarter as the spread of the...
Yum China warns quarterly profit to take over 50% hit due to Delta variant © Reuters. FILE PHOTO: A KFC restaurant is seen in Shanghai, China March 12, 2019. REUTERS/Aly Song

(Reuters) -KFC operator Yum China Holdings (NYSE:YUMC) Inc said on Tuesday its adjusted operating profit would take a 50% to 60% hit in the third quarter as the spread of the Delta variant in China led to restaurant closures and "sharply reduced sales".

U.S.-listed shares of Yum China fell 3% in extended trading.

The company said over 500 of its restaurants in 17 provinces were closed or offered only takeaway and delivery service at the peak of the Delta variant's outbreak in August, leading to a mid-teens percentage drop in same-store sales.

"While the outbreak has subsided in recent days and restaurant traffic is gradually recovering, our operations continue to be heavily impacted," Yum China said, adding it expects a recovery in same-store sales "to take time".

The company said its profit margins were also being pressured by higher commodity prices, wage inflation and an increase in promotions.

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28-09-2021 05:18:57 (UTC+7)

EUR/USD

1.1695

+0.0001 (+0.01%)

Summary

↑ Sell

Moving Avg:

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Sell (8)

Indicators:

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EUR/USD

1.1695

+0.0001 (+0.01%)

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↑ Sell

Moving Avg:

Buy (4)

Sell (8)

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Buy (1)

Sell (9)

GBP/USD

1.3702

+0.0008 (+0.05%)

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USD/JPY

111.00

-0.01 (-0.00%)

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↑ Buy

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Buy (9)

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AUD/USD

0.7287

+0.0001 (+0.01%)

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Buy

Moving Avg:

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USD/CAD

1.2625

-0.0002 (-0.02%)

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EUR/JPY

129.82

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1.0826

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Gold Futures

1,750.65

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75.48

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78.62

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US Coffee C Futures

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Euro Stoxx 50

4,165.48

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15,573.88

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24,208.78

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US Small Cap 2000

2,281.79

+33.71 (+1.50%)

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IBEX 35

9,002.90

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BASF SE NA O.N.

64.740

+1.040 (+1.63%)

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Bayer AG NA

47.47

+0.99 (+2.13%)

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Allianz SE VNA O.N.

196.19

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Summary

↑ Buy

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Adidas AG

278.80

-2.77 (-0.98%)

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Deutsche Lufthansa AG

6.561

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Summary

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Siemens AG Class N

147.27

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 EUR/USD1.1695↑ Sell
 GBP/USD1.3702Sell
 USD/JPY111.00↑ Buy
 AUD/USD0.7287Buy
 USD/CAD1.2625↑ Buy
 EUR/JPY129.82Sell
 EUR/CHF1.0826Neutral
 Gold1,750.65↑ Buy
 Silver22.642Neutral
 Copper4.2790Neutral
 Crude Oil WTI75.48↑ Buy
 Brent Oil78.62↑ Buy
 Natural Gas5.920↑ Buy
 US Coffee C194.98↑ Buy
 Euro Stoxx 504,165.48↑ Sell
 S&P 5004,443.11↑ Sell
 DAX15,573.88↑ Sell
 FTSE 1007,063.40↑ Sell
 Hang Seng24,208.78↑ Buy
 Small Cap 20002,281.79↑ Sell
 IBEX 359,002.90Buy
 BASF64.740↑ Sell
 Bayer47.47↑ Buy
 Allianz196.19↑ Buy
 Adidas278.80↑ Sell
 Lufthansa6.561↑ Buy
 Siemens AG147.27↑ Sell
 Deutsche Bank AG11.120↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank5,665/ 5,715
(0/ 0) # 900
SJC HCM5,635/ 5,700
(0/ 0) # 885
SJC Hanoi5,635/ 5,702
(0/ 0) # 887
SJC Danang5,635/ 5,702
(0/ 0) # 887
SJC Nhatrang5,635/ 5,702
(0/ 0) # 887
SJC Cantho5,635/ 5,702
(0/ 0) # 887
Cập nhật 28-09-2021 05:18:59
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RON 95-IV2204022480
RON 95-II,III2194022370
E5 RON 92-II2071021120
DO 0.05S1658016910
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EUR25.993,7727.346,60
GBP30.324,2231.591,18
JPY200,45212,05
KRW16,7520,39
Cập nhật lúc 18:54:42 27/09/2021
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