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It's finger lickin' good, the largest chicken concept in the world.
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$33,900,000,000 *
Total system sales
* Number reflects that in the 2023 year-end earnings report.
KFC is a global chicken restaurant brand with a rich, decades-long history of success and innovation.
It all started with one cook, Colonel Harland Sanders, who created a finger lickin’ good recipe more than 75 years ago — a list of 11 secret herbs and spices scratched out on the back of his kitchen door. Today, we still follow his formula for success, with real cooks breading and freshly preparing our delicious chicken by hand in more than 30,000 restaurants in over 145 countries and territories around the world.
Colonel Sanders was a born innovator and founded KFC on values like hard work, hospitality and generosity that still live large in the KFC brand today. We believe in making chicken the right way, by using quality ingredients and freshly preparing them by hand every day. We also proudly welcome everyone to enjoy a seat at our table. From our more than 800,000 Team Members to our guests around the world, KFC treats everyone with generosity and like family.
We are grounded in our heritage but looking forward to the future. KFC is always evolving to make it easier for our guests to enjoy our chicken. We do this through digital innovation and building new restaurants with our valued franchise partners. In fact, every six hours, a new KFC restaurant opens somewhere in the world. As we grow, KFC is committed to doing so responsibly through commitments like our 2025 global plastic packaging goal, the realization of our 2018 commitment to stop purchasing chicken raised with antibiotics important to human medicine in the US and the KFC Harvest program, which to date has donated over 80 million pounds of food to our local communities around the world.
From KFC’s world famous Original Recipe to our new signature flavors and formats, we are about making the most craveable, Colonel-inspired chicken in the world, the right way. If it’s not finger lickin’ good, it’s not us. And with the help of incredible franchise partners around the world, we’ll continue to be one of the fastest growing retail brands globally, both in emerging and developed markets alike.
To learn more about the Global KFC brand, please click here . To learn more about KFC in the US, please click here .
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The biggest takeaways from Yum Brands’ Investor Day
Alicia Kelso | Dec 13, 2022
Yum Brands, parent company of KFC, Taco Bell, Pizza Hut and The Habit Burger Grill, held its annual investor day Tuesday in New York City and it’s hard to imagine a more confident company right now. Executives touted their diverse portfolio and scale as providing a major advantage against a relentlessly uncertain economic backdrop and presented several examples to support their case. Here are some of the biggest takeaways from the presentation:
The growth engine keeps churning
Related: Yum Brands generates strong Q3 from balancing value and ‘premium value’ offerings
Yum’s restaurant count number has increased by 12% since 2019, despite Covid-related lockdowns and other unprecedented challenges, and now counts nearly 56,000 restaurants in 156 countries around the world. That pace of development is only accelerating. During the presentation, CEO David Gibbs announced the company is raising its long-term algorithm for growth to 5% unit growth, 7% system sales growth and “at least” 8% operating profit growth (from its 3%, 5% and 5% average, respectively).
“If there is one indicator of confidence that our franchise system has in our business, it’s their ability to build through all of that uncertainty,” Gibbs said.
Notably, this growth includes Pizza Hut U.S., which will be net positive this year for the first time since 2014, according to Pizza Hut CEO Aaron Powell. Yum executives have confidence in the continued pace of expansion because the penetration in the U.S. is about 60 restaurants per one million consuming class customers.
“That’s only 6% of share in the global QSR space,” said CFO Chris Turner said. “We believe there is an additional 100,000 new restaurants ore more that can be added to our (global) system. Opportunity is not our problem.”
Digitally driven growth
Gibbs added that the company’s next chapter of growth will “in many ways be powered by digital.” Prior to the pandemic, Yum generated about $12 billion in digital sales. That number has increased to $24 billion, or about 40% of total sales.
“Digital and technology is taking over everything we do at Yum. We’re really just getting started,” Gibbs said.
Indeed, Yum has made several tech acquisitions throughout the past several years and is in the process of integrating those systems throughout its global footprint. The company acquired Tiktuk in 2021, for instance, and will begin implementing that system in The Habit Burger Grill next year via the WhatsApp platform.
“There is a set of capabilities we are building, and we have also made a number of acquisitions to bring capabilities into our system. We have a competitive advantage on those acquisitions because of our scale. We’re able to see the tech players around the world who are driving the biggest impact and that our franchisees have excitement about. All of our acquisitions have been small but incredibly powerful,” Turner said.
Digital end game: 100%
The goal for Yum executives is to get to 100% of sales powered by digital. Why that is the goal is simple: digital sales generate a lift in check, frequency of existing consumers, new occasions and new consumers, Turner said, pointing to Taco Bell as a case study. The chain had virtually zero digital sales in 2018 and is now north of $3 billion. Turner added that $1 billion of those sales are incremental.
RED Innovation Team
In addition to acquisitions, the company is working to add to its digital capabilities by building and testing “further-out technology” that could drive performance. This initiative is driven by the RED (relevant, easy, distinctive) innovation team, which focuses on four specific areas: computer vision to help team members more effectively fulfill orders, for example; labor productivity, including a test of robotics in the back-of-house; drive-thru productivity, including conversational AI at the drive-thru; and Internet of Things to help save on administrative and other costs such as energy. Turner said IoT is the furthest along and has proven to reduce administrative time.
KFC accelerating access
At the brand level, KFC CEO Sabir Sami said the company is beginning to accelerate its digital business, not only by digitizing every order, but also in creating a better experience for customers and a better ability for the company to understand its consumers better. It is investing in kitchen technology, automation and intelligence so team members can better focus on guest experiences. Kiosks have been a major driver in creating more access and the sales mix from kiosks has reached nearly 40%. KFC is also focused on driving loyalty and expects to roll out a new program in the U.S. in 2023. KFC U.S. is also targeting more lunch and snacking occasions to drive unit volumes and plans to launch chicken nuggets systemwide in 2023 to support that goal.
Taco Bell aiming for more occasions
Taco Bell is striving to beef up its breakfast and lunch occasions, with CEO Mark King pointing to McDonald’s as a benchmark example of the opportunity that exists for the brand.
“Our competitors have way more reasons for customers to go to them, if you look specifically at McDonald’s dayparts, coffee treats,” he said, adding that Taco Bell’s breakfast and lunch dayparts are “significantly” behind the Golden Arches, even though dinner and late-night business is on par.
To close this gap, Taco Bell is looking at adding French fries permanently, which King believes will “increase lunch dramatically.” Also, desserts, beverages, chicken and breakfast are opportunities.
“We’ve been in and out of breakfast for seven years. It’s time to commit to it. We are committed to closing both of those gaps and have big opportunities in just those two dayparts to increase business in the coming years,” King said. “Chicken is a big one. Right now, a large percentage of our business is beef and the Gen Z consumer wants chicken.”
Another opportunity is in the digital business and King echoed his peers in wanting to eventually reach 100%. He is also intensely focused on loyalty and getting light users to buy more products.
Pizza Hut getting younger
Powell said his company’s modernization efforts will “materially add to Yum’s growth" and describes modernizing as becoming digital-first – not just on the consumer interface, but also on the operations side. It also means updating Pizza Hut’s assets to be more delivery and carryout-centric. Finally, “getting younger” means adding more everyday occasions – beyond just the Friday, Saturday, Sunday family night orders. Pizza Hut’s new Melt platform, launched in October, has supported this goal.
“It’s intentionally designed for young people. Value is important and at $6.99, we’re competing with everybody. This is a filling, compelling meal against all categories,” Powell said. “We’re very pleased with the same-store sales growth, transaction growth, new customers and repeat customers since this launched.”
The Habit getting bigger
Shannon Hennessy, president of Yum’s newest concept The Habit Burger Grill, said her concept has bold ambitions for growth as it has experienced a 30% system sales increase since joining Yum in 2020. The goal is to double The Habit’s footprint, which is currently just north of 330 units, in the next five years.
‘The scale player wins’
Perhaps the biggest takeaway from a morning full of presentations is that Yum Brands’ diversified portfolio and scale allows the company to remain insulated from persistent headwinds. During the Great Recession of 2008-10, for instance, system sales grew by 12%. Throughout the past three years of Covid and inflation, system sales have grown by 19%.
“If you are dealing with inflationary headwinds, the scale player wins,” Turner said. “It gives us advantages as we move forward. Think about the digital space as an example. Most of our investments are fixed costs.”
Potential to add more scale?
Once again , Turner was asked about the company’s willingness to add another brand to its mix and add to that advantageous scale. He answered, simply, “We’re always scanning the market for opportunities,” but added that the bar is “really high” and that any such brand must generate shareholder value.
Franchisee and consumer pulse
Finally, to get a clearer picture of Yum executives’ confidence in the company, Gibbs said franchisees are asking how to access more development opportunities, while consumers haven’t presented a “wholesale shift in behavior” to the company – despite mounting pressures and uncertainties.
“Our franchisees have seen that we can navigate cost pressures and I’d say they have more confidence than ever because we went through such a difficult period,” Gibbs said.
Contact Alicia Kelso at [email protected]
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The restaurant of the future: KFC builds the first restaurant in the world where the number of contact points is minimized
KFC’s ‘restaurant of the future’ may begin a new chapter in the digital development of the Russian restaurant industry
June 10th, 2020, Moscow – In response to the new challenges of the time, KFC is preparing to open its first ‘restaurant of the future’ in the world – a restaurant based on the concept of minimizing all possible indoor contacts. Contactless service is made possible by switching the traditional cash desks with cashiers into digital kiosks, as well as through the use of a new contactless automated zone for picking up orders and a biometric identification system for the payment and receipt of orders. The new restaurant will also become an incubator of innovative ideas and digital solutions, the most successful of which will be implemented in other KFC restaurants in Russia, thus transforming it completely.
The restaurant, located near the Butyrskaya metro station in Moscow, is operationally ready and will be able to start receiving guests as soon as the restrictions on public catering restaurants are lifted.
Pic 1. An automated order issuing system
Ordering dishes
Pic 2. The order hall and beverage station
All orders in the new restaurant will be made through digital kiosks. To simplify and speed up the procedure, KFC has additionally implemented a biometric identification system in every device in the restaurant. The system converts a face image of the customer into an individual digital code and makes it possible for the customer, once registered, to not only eliminate the need for a card or mobile phone to pay for orders during every subsequent visit to KFC, but also to order their favourite dishes faster than ever, as the system remembers and suggests the order during future visits. The guests can also place an order without registration.
The restaurant is equipped with a Click & Collect function when a guest places an order via the mobile app and picks it up at a specified time from the corresponding cell in the restaurant.
In order to improve safety and security inside the restaurant, the restaurant minimized cash circulation, so the guests can choose between a biometric identification system, a credit card or a phone which supports Apple Pay or Android Pay technologies. If a customer requires help, they can contact a hostess or call the restaurant Manager via a special SOS kiosk. Those who wish to pay in cash can still do it using a special terminal.
Pic 3. Self-service kiosks with a biometric identification system for persons with reduced mobility
Preparing and delivering the order
Pic 4. A special Robo-hand puts the order into a cell
Pic 5. A visitor picks up an order from the cell
Pic 6. Contactless automated zone for picking up orders
The kitchen in the "restaurant of the future" is partly open, allowing guests to watch the preparation process of their order as it is being assembled and transported along the conveyor belt. A special Robo-hand then moves the order into a cell, where it is stored for no longer than 10 minutes. The cell opens automatically with the help of the face recognition system, which is also installed in automatic hot drink filling machines. Thus, the first hands that touch the freshly prepared chicken are the guest's own hands.
The restaurant will feature a full KFC menu with the exception of ice cream in a cone, beer, and Chef lemonade.
The digital transformation of the largest player in the fast-food industry in Russia could impact the entire industry, contributing to its further development in line with modern digital trends.
“The digital transformation of KFC in Russia has been going on for the past few years. We implement innovations not only in our internal business processes but also work to make ordering meals directly in the restaurant and outside even more convenient and fast for millions of KFC chicken lovers. Together with our guests we will test the most advanced and interesting ideas and decide which of them will be implemented in other restaurants of the chain, thus transforming it as a whole,” said Raisa Polyakova, KFC's CEO in Russia and CIS. “In addition, our ‘restaurant of the future’ will serve as a response to the challenges of the new reality, where ensuring security and reducing the number of contacts become the key to success and a guarantee of maintaining business stability. ”
To prevent the spread of the coronavirus, the restaurant of the future, as well all of the chain’s 930 restaurants, will implement increased sanitary and hygiene measures to ensure the safety of guests and employees. Special markings will be placed on the floor in the digital kiosks area to help remind visitors to keep a social distance. Special signs will also be placed in the common areas of the restaurant and on the chairs, reminding visitors to keep a distance of 1.5 meters and offering them any other available space. Tables will be disinfected after each guest leaves, and, every 30 minutes, self-service kiosks and other surfaces that are often touched by guests. Guests of the restaurant can also use antibacterial soap in the bathrooms and disinfect their hands with a sanitizer.
KFC, a subsidiary of Yum! Brands, Inc. (NYSE: YUM.), is a global chicken restaurant brand with a rich, decades-long history of success and innovation. It all started with one cook, Colonel Harland Sanders, who created a finger lickin’ good recipe more than 75 years ago, a list of secret herbs and spices scratched out on the back of the door to his kitchen. Today we still follow his formula for success, with real cooks breading and freshly preparing our delicious chicken by hand in more than 23,000 restaurants in 140 countries and territories around the world. For more information, visit www.kfc.ru
For media inquiries: [email protected]
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Press ReleaseYum brands, inc. to host a virtual kfc investor day may 25, 2021. LOUISVILLE, Ky.--(BUSINESS WIRE)-- Yum! Brands, Inc. (NYSE: YUM) will host a virtual KFC Investor Day on May 25, 2021. This virtual investor day will highlight the largest part of Yum!’s business, the KFC division, which includes over 25,000 restaurants across over 145 countries, and will showcase the talented and diverse leaders that drive this business globally. The event will be webcast live and can be accessed through the Yum! Brands website at http://investors.yum.com/ . For additional information and registration details, please visit https://investors.yum.com/news-events/events-and-presentations/ . Yum! Brands, Inc., based in Louisville, Kentucky, has over 50,000 restaurants in more than 150 countries and territories, making it a leader in global retail development primarily operating the company’s brands – KFC, Pizza Hut and Taco Bell – global leaders of the chicken, pizza and Mexican-style food categories. The Company’s family of brands also includes The Habit Burger Grill, a fast-casual restaurant concept specializing in made-to-order chargrilled burgers, sandwiches and more. Yum! Brands was included on the 2021 Bloomberg Gender-Equality Index and in 2020, Yum! Brands was named to the Dow Jones Sustainability Index North America and was ranked among the top 100 Best Corporate Citizens by 3BL Media. Category: Financial View source version on businesswire.com : https://www.businesswire.com/news/home/20210511006216/en/ Analysts are invited to contact: Gavin Felder, Chief Strategy Officer and Interim Head of Investor Relations, at 888/298-6986 Members of the media are invited to contact: Virginia Ferguson, Senior Director, Public Relations, at 502/874-8200 Source: Yum! Brands, Inc. | ||||||||||||
COMMENTS
Investors. Yum! Brands, Inc., based in Louisville, Kentucky, and its subsidiaries franchise or operate a system of over 59,000 restaurants in more than 155 countries and territories under the company's concepts - KFC, Taco Bell, Pizza Hut and the Habit Burger Grill.
Events & Presentations. Notify me of new Company events. Send me reminders of Company events. In order to provide archives of our conference calls, this page makes use of the RealAudio plugin and/or Windows Media Player. To experience the audio features, you need sound capabilities on your personal computer and installation of RealPlayer or ...
n KFC is "Always Original." Across the globe, KFC continued to invest in innovation by rebundling, repackaging and reconceptualizing our core menu items. From our world famous Original Recipe to new signature flavors and formats, KFC is all about making the most craveable, Colonel-inspired chicken in the world, the right way, with
Brands, Inc. (NYSE: YUM) today reported results for the third quarter ended September 30, 2023. Worldwide system sales, excluding foreign currency translation, grew 10%, with 6% same-store sales growth and 6% unit growth. Third-quarter GAAP operating profit grew 12% and third-quarter core operating profit grew 16%. Third-quarter GAAP EPS was.
KFC successfully launched its chicken sandwich platform in the U.S. to match its globally successful sandwich offerings in multiple international markets. Taco Bell is truly a Category of One for Everyone, believing everyone deserves the right to Live Más. The brand spent 2021
Rather, the Company believes that the presentation of these non-GAAP measurements provide additional information to investors to facilitate the comparison of past and present operations.
2021 Highlights: We remain committed to advancing our Recipe for Growth. During 2021, we opened nearly 4,200 restaurants in over 110 countries, resulting in 3,057 net-new units and signaling that our develop ment engine is diversified and stronger than ever. This accelerated restaurant development is a testament to the health of our business.
This virtual investor day will highlight the largest part of Yum!'s business, the KFC division, which includes over 25,000 restaurants across over 145 countries, and will showcase the talented ...
KFC is a global chicken restaurant brand with a rich, decades-long history of success and innovation. It all started with one cook, Colonel Harland Sanders, who created a finger lickin' good recipe more than 75 years ago — a list of 11 secret herbs and spices scratched out on the back of his kitchen door. Today, we still follow his formula ...
KFC Division opened 385 gross new restaurants in 47 countries. Removing Russia from our first-quarter results negatively impacted KFC International system sales growth by 5 percentage points and KFC Division operating profit growth excluding foreign currency by 2 percentage points.
Yum Brands, parent company of KFC, Taco Bell, Pizza Hut and The Habit Burger Grill, held its annual investor day Tuesday in New York City and it's hard to imagine a more confident company right ...
Louisville, Ky., January 12, 2024 - Kentucky Fried Chicken® (KFC) announced today that it has named Thuthuka Nxumalo Chief Operations Offic... We're not about novelty for novelty's sake. We have deep roots and we have an original founder.
The Investor Relations website contains information about Yum China Holdings, Inc.'s business for stockholders, potential investors, and financial analysts.
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The Investor Relations website contains information about Yum China Holdings, Inc.'s business for stockholders, potential investors, and financial analysts.
These non-GAAP measurements are not intended to replace the presentation of our financial results in accordance with GAAP. Rather, the Company believes that the presentation of these non-GAAP measurements provide additional information to investors to facilitate the comparison of past and present operations.
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June 10th, 2020, Moscow - In response to the new challenges of the time, KFC is preparing to open its first 'restaurant of the future' in the world - a restaurant based on the concept of minimizing all possible indoor contacts. Contactless service is made possible by switching the traditional cash desks with cashiers into digital kiosks, as well as through the use of a new contactless ...
The Company's KFC, Taco Bell and Pizza Hut brands are global leaders of the chicken, Mexican-style food, and pizza categories, respectively.
A U.S. sanctions authority delayed for months KFC's exit from Russia this year after commenting on an "exit tax" for departing foreign firms when the deal was on the cusp of completion, according ...
The Investor Relations website contains information about Yum China Holdings, Inc.'s business for stockholders, potential investors, and financial analysts.
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Yum! Brands, Inc. (NYSE: YUM) will host a virtual KFC Investor Day on May 25, 2021. This virtual investor day will highlight the largest part of Yum!'s business, the KFC division, which includes over 25,000 restaurants across over 145 countries, and will showcase the talented and diverse leaders that drive this business globally.