This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.bbc.co.uk/news/business-60760556
The article has changed 14 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| KFC-owner Yum sales plunge as China Covid cases surge | KFC-owner Yum sales plunge as China Covid cases surge |
| (32 minutes later) | |
| Some KFC shops in China are only offering takeaway services | Some KFC shops in China are only offering takeaway services |
| The owner of KFC and Pizza Hut said sales plunged by 20% in the first two weeks of March as a surge of new Covid cases spread across China. | The owner of KFC and Pizza Hut said sales plunged by 20% in the first two weeks of March as a surge of new Covid cases spread across China. |
| Yum China said "the situation has rapidly deteriorated" as regional lockdowns have been put in place to stem the outbreak. | Yum China said "the situation has rapidly deteriorated" as regional lockdowns have been put in place to stem the outbreak. |
| More than 1,100 of its stores are temporarily closed or offering takeaway and sales are "still trending down". | More than 1,100 of its stores are temporarily closed or offering takeaway and sales are "still trending down". |
| China's lockdowns are among its biggest since the beginning of the pandemic. | China's lockdowns are among its biggest since the beginning of the pandemic. |
| They include the Jilin province - home to companies such as carmakers Toyota and Volkswagen - as well as technology hub Shenzhen as the number of new infections of the Omicron variant of Covid rose. | |
| Yum China said: "Entering March, the situation has rapidly deteriorated with the highly transmissible Omicron variant causing outbreaks across China, including economically important regions of Guangdong, Shanghai, Shandong and Jilin." | Yum China said: "Entering March, the situation has rapidly deteriorated with the highly transmissible Omicron variant causing outbreaks across China, including economically important regions of Guangdong, Shanghai, Shandong and Jilin." |
| It added: "Our operations are significantly impacted by the latest outbreaks and the tighter public health measures which resulted in a further reduction of social activities, travelling and consumption." | It added: "Our operations are significantly impacted by the latest outbreaks and the tighter public health measures which resulted in a further reduction of social activities, travelling and consumption." |
| Toyota, Volkswagen and iPhone-maker Foxconn have been forced to close operations in affected regions due to lockdowns. | Toyota, Volkswagen and iPhone-maker Foxconn have been forced to close operations in affected regions due to lockdowns. |
| Businesses shut as China widens Covid lockdowns | Businesses shut as China widens Covid lockdowns |
| KFC faces boycott in China over meal toy promotion | KFC faces boycott in China over meal toy promotion |
| There are concerns the restrictions could have an impact on global supply chains. | There are concerns the restrictions could have an impact on global supply chains. |
| But Yum China's chief executive Joey Wat, said: "Our robust supply chain management has shielded us from material business disruptions." | But Yum China's chief executive Joey Wat, said: "Our robust supply chain management has shielded us from material business disruptions." |
| The company said it had more than doubled the number of stores it had closed or restricted to take-out services from 500 in January to 1,100 in March. | The company said it had more than doubled the number of stores it had closed or restricted to take-out services from 500 in January to 1,100 in March. |
| Mr Wat pledged: "We will keep our restaurants open and provide food services to customers wherever it is possible and safe to do so." | Mr Wat pledged: "We will keep our restaurants open and provide food services to customers wherever it is possible and safe to do so." |
| All 24 million residents of the north-eastern Jilin province were placed under quarantine orders on Monday. People are banned from moving around and anyone wanting to leave the province must apply for police permission. | All 24 million residents of the north-eastern Jilin province were placed under quarantine orders on Monday. People are banned from moving around and anyone wanting to leave the province must apply for police permission. |
| Some 12.5 million people living in Shenzhen - dubbed China's Silicon Valley - are also living under a five-day lockdown. | Some 12.5 million people living in Shenzhen - dubbed China's Silicon Valley - are also living under a five-day lockdown. |
| Businesses in many of the affected regions have closed or are having their employees work from home. | Businesses in many of the affected regions have closed or are having their employees work from home. |
| You may also be interested in: | You may also be interested in: |
| This video can not be played | This video can not be played |
| To play this video you need to enable JavaScript in your browser. | To play this video you need to enable JavaScript in your browser. |
| The BBC's Stephen McDonell visited Wuhan ahead of the anniversary of the world's first Covid-19 lockdown | The BBC's Stephen McDonell visited Wuhan ahead of the anniversary of the world's first Covid-19 lockdown |