Yum China’s first quarter revenue minimally increased amid 378 net new store openings during the period.

The company’s revenue grew 1 per cent year over year to US$2.96 billion while net income slid 1 per cent to $287 million.

“Our amazing high-ticket products, such as our KFC beef burger and whole chicken, grew by double digits in the quarter,” said Yum China CEO Joey Wat. “Our six-year-old Crazy Thursday campaign and limited-time offer of all-you-can-eat at Pizza Hut continue to excite customers and drive incremental traffic.

“Looking toward the future, we are absolutely confident in seizing China’s vast opportunities. We are expanding the addressable market through a multifaceted approach with flexible store formats, strategic franchising and a range of exciting products across price points.”

During the quarter, KFC opened 307 net new stores, including 58 net new franchise stores, while Pizza Hut opened 113 net new stores.

For this fiscal year, the company targets to open 1500 to 1700 net new stores and return $1.5 billion to shareholders through quarterly cash dividends and share repurchases.