Please see our Safe Harbor Statement.
At Yum!, we have a clear vision for building the world’s most loved, trusted and fastest growing restaurant brands. It begins with our franchisees and restaurant team members who bring our vision to life, one meal at a time. Our unified global system serves millions of customers each day, provides opportunities for our team members and supports the communities in which we operate. As the world’s largest restaurant company with more than 50,000 restaurants, our unmatched scale enhances our ability to create competitive advantages to fuel our Recipe for Growth and Good.
We enter 2021 a stronger company that is primed to grow, made better and more resilient by the challenges of 2020. I am incredibly proud of our people and the way we came together to navigate these challenges. We galvanized our global system’s commitment to our Growth and Good strategy, underpinned by an unmatched culture of cross-brand collaboration, people and franchisees that has put us on solid footing to move forward.
Across Yum!, we intensified our focus on leveraging our scale and created sustainable competitive advantages to fuel growth for our franchisees. This includes the continual acceleration of digital and technology initiatives to enhance the customer experience, off-premise capabilities and unit economics across the globe.
2020 Highlights: More than 35,000 of our restaurants are offering delivery, representing a 16% increase year-over-year, driven in part by expanded aggregator partnerships. We ended 2020 on a digital sales high note of a record $17 billion, about a 45% increase over the prior year. On average, we opened seven gross restaurants per day, and we ended the year with more than 50,000 global restaurants in approximately 290 brand-country combinations, with system sales exceeding $50 billion.
Our Recipe for Growth’s four pillars are the foundation upon which we’re building sustainable, long-term results. 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.
Our Recipe for Good is focused on leading with socially responsible and sustainable stewardship of our people, food and planet.
As I enter my second year leading Yum!, I’m more confident than ever that our consumer-focused, digitally enabled brands will grow same-store sales, unit economics will support profitable development, and Yum! is well positioned to maximize value creation for years to come. Thank you to our shareholders, customers and Yum! family for your continued support.
David Gibbs, CEO
Chief Executive Officer,
Yum! Brands, Inc.
|(In millions, except for per share amounts)
|Franchise and property revenues||2,510||2,660||(6)|
|Franchise contributions for advertising and other services||1,332||1,391||(4)|
|Reported Diluted Earnings Per Common Share from Continuing Operations||$2.94||$4.14||(29)|
|Special Items Diluted Earnings Per Common Share (a)||(.68)||0.59||NM|
|Diluted Earnings Per Common Share from Continuing Operations before Special Items (a)||$3.62||$3.55||2|
|Net Cash Provided by Operating Activities||$1,305||$1,315||(1)|
(a) See our 2020 Form 10-K for further discussion of Special Items..