KFC and Pizza Hut Show China's Restaurant Industry Is Quickly Recovering From the Pandemic

Brands (NYSE: YUM) -- Yum China (NYSE: YUMC) -- fared pretty well during the second quarter of 2020, all things considered. Nearly all of Yum China's more than 10,000 locations (a milestone reached in July) are open again; and while recovery slowed to a trickle in June and July as ongoing actions to fight the spread of the virus continued, revenue had rebounded back to 93% of where it was a year ago. Specifically, KFC comparable-store sales (an average of foot traffic and value of guest orders) were 90% of what they were in the second quarter of 2019.