Yum China opening two Taco Bell restaurants in Shanghai
"Yum China Holdings Inc. announced that it is opening two new Taco Bell restaurants in Shanghai, one in Wu Jiao Chang, a premium shopping mall, and one in the coming days in Feng Sheng Li, a shopping district. The first Taco Bell opened in Shanghai earlier this year in the Lujiazui area. The company is introducing a new dinner menu exclusive to China that includes the ribeye steak and mushroom taco and beef kebab nachos, and the new restaurants will serve alcohol. The new restaurants will also have table service. Taco Bell has more than 7,000 restaurants around the world, with nearly 400 in 26 countries outside the U.S. Yum China shares are up more than 52% for the past year. Yum Brands Inc. whose portfolio also include Pizza Hut and KFC, has seen shares rise nearly 28% for the last 12 months. The S&P 500 index is up 18.2% for the period."
Article by Tonya Garcia. Read here on MarketWatch