Pizza hut cant hold on? 300 stores closed forever! 900 stores for sale

category:Hot
 Pizza hut cant hold on? 300 stores closed forever! 900 stores for sale


NPC international has 1227 Pizza Hut stores in the United States. In addition to closing 300, the remaining 927 stores will also be sold.

On the same day, some media reported that the relevant person in charge of pizza hut China said that China would not be affected. Yum China said that despite the challenges brought by the new outbreak, the company is optimistic about its long-term development in China, and its goal of opening 800-850 new stores by 2020 will remain unchanged.

American giant bankrupt! Pizza Hut plans to close 300 stores permanently, and more than 900 stores will be sold (source: ~)

The operator went bankrupt and 300 stores closed

However, NPC International said that the vast majority of the affected stores are restaurants that provide hall food. Analysis said that the closure of stores with Hall Food location is also related to the recent poor operation of chain catering. In the future, the company will encourage consumers to place orders from websites or third-party apps and then pick up meals in stores.

According to the Beijing business daily, in recent years, pizza hut has lost part of its market share in the competition with pizza brands such as Dominos and Papajohns. The sales volume of pizza hut stores in NPC international has dropped sharply. The company has been struggling to attract customers. In the bankruptcy filing, NPC international blamed the brand of pizza hut for the decline of menu innovation and the lack of a clear long-term strategy, resulting in a further decline in brand recognition.

Photo source: visual China

Compared with most restaurants, pizza hut is one of the few companies with same store sales growth in April and may, thanks to higher Internet and takeaway sales. NPC international also pointed out that under the new crown epidemic situation, the entire pizza industry has witnessed explosive growth, which has unexpectedly eased the situation. However, the cost of epidemic prevention in stores is high, which costs the company $750000 a month.

It is expected that the closure of the Pizza Hut stores, which are expected to underperform other chain stores, will be dominated by in store dining, CNN reported.

Novel coronavirus is gradually fading away from the restaurants image and looking for more attention to its delivery and takeaway service. This years new coronavirus epidemic has accelerated this change. Data show that Pizza Hut achieved the highest average weekly sales of takeaway and pick-up in the past eight years in May.

In a way, the epidemic has really stimulated takeout in the United States. According to a report by statista, a data research institution, by the end of June this year, the total size of the U.S. takeout market has doubled year-on-year, and is expected to exceed $26.5 billion by the end of June; the number of takeout users will also exceed 100 million, becoming the worlds second largest takeout market after China.

Prior to this, yums chief executive David Gibbs has publicly said that Pizza Huts takeaway business has always been a high profit business.. He added that since the outbreak, online sales have been an important factor in improving turnover, with Pizza Huts takeaway business generating a 21% increase in same store sales in the second quarter of this year.

Nevertheless, some analysts point out that although the sales volume of pizza hut has increased greatly due to online and takeaway, this still cant reverse the decline of Pizza Huts sales in the United States in recent years. In the second quarter of this year, yums net profit fell 29% year-on-year, while global same store sales, which David Gibbs is proud of, also fell 15%.

As for the closure of U.S. stores, Pizza Hut China responded that the Chinese market would not be affected.

Will Yum group rely on China to make a comeback?

The parent company of pizza hut, Baisheng catering group, is the largest catering group in the global restaurant network. It was established in the United States on October 7, 1997. It includes KFC, pizza hut, Taco Bell and so on, ranking first in the world in the fields of chicken cooking, pizza, Mexican flavor food and so on.

Yum China (NYSE: yumc) is a subsidiary of Yum! Brands group and the largest catering operating company in China. In 2016, it was separated from Yum! Catering group and listed independently. The company was established for the separation and distribution of its Chinese business. The company owns the licensing rights of KFC, Pizza Hut leisure catering, Pizza Hut domestic service and Taco Bell brand in China, and the exclusive rights of Oriental White and little fat sheep.

In spite of the severe decline in business performance under the epidemic situation, yum China remained profitable and expanded 169 stores against the trend.

In the first half of this year, yums total revenue in China was 25.883 billion yuan, a year-on-year decrease of 17.43%; net profit was 1.373 billion yuan, a year-on-year decrease of more than 51.5%.

Under the epidemic situation, KFC and Pizza Huts takeout and takeaway business contributed significantly to the companys performance. According to the financial report, takeaway and takeaway business accounted for more than 50% of the companys sales in the second quarter. In addition, the sales of members have also achieved double-digit growth, accounting for more than 60% of the total sales; digital orders account for about 80% of the companys overall sales.

Under the influence of the epidemic, yum! Brands China did not stop expanding. In the first quarter, it opened 169 new stores, including 142 new KFC stores. KFC operates 6749 restaurants in more than 1400 cities in China. There are 2 new stores for pizza hut, and the total number of its stores in more than 500 cities has reached 2258. As of June 30, 2020, the total number of restaurants operated by Yum! Brands in China exceeded 9900.

In response to the decline in operating results, yum China said the quarterly and annual decline in sales so far was due to lower same store sales and temporary store closures due to the impact of the covid-19 pandemic, but this growth was partially offset by net growth.

The Great Depression of American catering industry

As many as 231000 restaurants in the United States will be closed this year out of a total of 660000 restaurants in the United States, according to the forecast of Allen Allen consulting, according to Radio France Internationale. This will bring the steady growth trend of the number of American restaurants to a halt, breaking the historical record of continuous increase in the past 20 years.

John Kelly, chief executive of zenreach, a US enterprise software provider, said recent restaurant attendance in Georgia, Texas and Florida was only half that of the same period last year.

The national food and Beverage Association (NRA) released a report in July, which showed that 75% of restaurants are not expected to make profits in the next six months, while the catering industry may lose as much as $240 billion by the end of 2020. Sean Kennedy, NRAs executive vice president of public affairs, said the catering industry was the first industry in the United States to go out of business and perhaps the last to recover from the epidemic.

Photo source: visual China

According to a survey by the NDP group, which studies consumption trends, nearly a third of American adults now say they prefer to cook at home even if they are allowed to go out. This means that under the epidemic situation, most consumers willingness to spend has changed, which is not good news for the catering industry. Since July 15, the number of diners in restaurants across the United States has fallen 64% year-on-year, according to a survey.

What makes restaurant operators headache is that in order to prevent and control the epidemic situation, the government has begun to advocate outdoor dining and take out service. Although this provides a new way for restaurants in the epidemic situation to return to work, it also adds costs to the operation of restaurants. For example, restaurants providing outdoor dining services must buy Gloves, masks, disposable menus, disposable tableware, etc. It should be noted that outdoor dining is just a helpless move under the epidemic situation, not all consumers can accept it, and not all dishes are suitable for this form. Based on this, many restaurants in the United States are still closed.

Some analysts pointed out that with the gradual loss of control of the U.S. epidemic, the restart of the U.S. catering industry will continue to be delayed, and the economic losses of the industry may be further expanded.

Wei endText.video -infoa{text-d ecoration:none;color :#000;}# endText.video - infoa:hover {color:#d34747;}# endText.video -listli{ overflow:hidden;float :left;list- style:none;width :132px; height:118px;position :relative; margin:8px3px0px0px; I am sorry. entText.video -lista,# endText.video - lista:visited {text-d ecoration:none;color :#fff; I am sorry. endText.video - list.overlay {text- align:left;padding :0px6px;background-color:#313131;font- size:12px;width :120px; position:absolute;bottom :0px; left:0px;height :26px;line- height:26px;overflow :hidden;color:#fff;}# endText.video - list.on {border- bottom:8pxsolid#c4282b ; endText.video - list.play { width:20px;height :20px; B ackground:url ( http://static.ws.126.net/video/img14/zhuzhan/play.png ); position:absolute;right :12px; top:62px;opacity :0.7;color:#fff; filter:alpha (opacity=70);_ B ackground:none;_ filter:progid : DXImageTransform.Microsoft.AlphaImageLoader (src= http://static.ws.126.net/video/img14/zhuzhan/play.png );}# endText.video - lista:hover.play { opacity:1;filter :alpha(opacity=100);_ filter:progid : DXImageTransform.Microsoft.AlphaImageLoader (src= http://static.ws.126.net/video/img14/zhuzhan/play.png ; }if(1/*/(iPhone|iPad|iPod|Android|NETEASEBOBO|blackberry|bbd+)/ ig.test ( navigator.userAgent )||/safari|chrome|firefox/i.test( navigator.userAgent )*/){varstr1=; varstr2= your browser is temporarily unable to play this video Frequency. < / video > ; document.getElementById (FPlayer1404863609673). parentNode.innerHTML=str1 +The U.S. Pizza Hut will close 300 stores and sell 900 stores: why Chinese stores are not affected? (source: original) window.NTES&&function (d){varf=function(c){varb=c.getAttribute(flashvars),a=c.getAttribute(repovideourl).replace(.flv,- mobile.mp4 );h=d(c. parentNode.parentNode.parentNode ) g=; if(1/*(iPhone|iPad|iPod|Android|NETEASEBOBO|blackberry|bbd+)/ ig.test ( navigator.userAgent uff09*/) {g = < videocontrols = controls preload = auto width = 100% height = 100% > < sourcetype = video / MP4 SRC + A + > your browser is temporarily unable to play this video. < / video >; ntES (. Video > )- inner.video ).attr(style,background:#000;);}h.$(.video)[0].innerHTML=g;}, e=function(b){vara=d(b. parentNode.parentNode.parentNode );a.$(li).removeCss(on),b.addCss(on),a.$(.video-title)[0].innerHTML=string== typeofb.textContent?b .te xtContent:b.innerText , A. $(. Video title) [0]. SetAttribute (URL), A. $(. Video from) [0]. InnerHTML = (source: + b.getattribute (source) ), f (b);}; window.continuePlay=function (){vara,b=d(d(.video- list.on )[0].nextSibling);3==b.nodeType&&(b=d(b.nextSibling));if(b&&d(.video-innerinput)[0].checked){e(b);}},function(){vara={ init:function (){if(d(.video-listli)[0]){d(d(.video-listli)[0]).addCss(on), this.eventBind ();}}, eventBind:function (){d(.video-listli).addEvent(click, function(b){e(d(this)),b.preventDefault();});}};a.init();}();}(NTES);

American Pizza Hut stores will close 300 and sell 900: why Chinese stores are not affected? (source: original)

It is reported that today (August 18), CNN reported that Yum group, the parent company of pizza hut, is facing bankruptcy in NPC international, the largest franchised distributor in the United States, and 300 Pizza Hut companies in the United States plan to close permanently. According to reports, NPC international has 1227 Pizza Hut stores in the United States. In addition to closing 300, the remaining 927 stores will also be sold.

Earlier, CNN reported that NPC international filed for bankruptcy protection in July and announced on Monday that it had reached an agreement with Yum! Brands, the owner of pizza hut, to close about a quarter of its restaurants and sell the remaining branches. The exact restaurant and time have not been determined.

In an interview with the media today, yum China said that despite the challenges brought by the new crown epidemic, the company is optimistic about its long-term development in China, and its goal of opening 800-850 new stores by 2020 will remain unchanged. As for the closure of U.S. stores, the relevant person in charge of pizza hut China said that China would not be affected.

It is understood that Yum is a large catering group in the world, with more than 35000 chain restaurants and more than 1 million employees in more than 110 countries and regions. Its subsidiaries include KFC, pizza hut, Taco Bell, Dongfang Jibai, Xiaofeiyang, Huang Jihuang, aide bear, coffei & joy and haizike, ranking first in the field of chicken cooking, pizza, hotpot, Chinese fast food, Mexican flavor food and seafood chain catering.

Netease Homepage

application

Pizza hut