百胜餐饮集团YUM! Brands, Inc. (YUM) 2017年年度报告「NYSE」.pdf

1、2017 was a year of celebrating and achieving milestones while making solid progress in the first full year of our transformation journey.First,we celebrated our 20th anniversary as an independent company following our spin-off from Pepsico in October 1997.Since the spin,Yum!has more than doubled its

2、 system sales,grown operating profit more than six times over and developed into a global powerhouse,going from 30%of restaurants outside the U.S.to nearly 60%of restaurants outside the U.S.Our exceptional results over the last 20 years are a testament to the unmatched power of our brands and the ex

3、traordinary talent which is the backbone of our organization.Next,October 31 marked the one-year anniversary of our spin-off of the China business into an independent company.Chinas success over the past year reaffirmed our decision to separate this powerful business.Our collaboration with Yum!China

4、 is as strong as ever and we continue to be impressed with their ability to make Yum!s brands distinctive,relevant,and easy.Our future together is bright and by working together we can fully exploit the power of our brands.Finally,2017 represented the first full year of our transformation journey.We

5、 made significant progress on our path to becoming a company that is more focused,more franchised,and more efficient.In fact,we ended 2017 with 97%of our restaurants being franchised and are well on our way towards being at least 98%franchised by the end of 2018.Our four key growth capabilities are

6、the foundation upon which our sustainable,long-term results are being built.These growth capabilities,outlined below,are the key drivers of same-store sales and net-new unit growth and serve as our guiding principles in all business decisions.1.Distinctive,Relevant and Easy Brands.We will innovate a