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China consumer belt-tightening constrains KFC operator, Starbucks
TOKYO -- Stagnant Chinese consumption is challenging global chains like KFC and Starbucks, while traditional local restaurant operators are also struggling to gain momentum.
Yum China -- which runs KFC, Pizza Hut, Taco Bell and other eateries in mainland China -- on Wednesday night said its total revenue for the first quarter came to $2.98 billion, inching up by 1% on the year, while its net profit grew by 2% to $292 million.
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