Because of the epidemic

The sudden outbreak of the new crown epidemic in 2020 has brought a huge impact on the food and beverage industry, and Yoshinoya is no exception to the impact of the epidemic.

According to finance.com.cn, on April 14, the Japanese fast food chain brand Yoshinoya released its 2020 financial report. The financial report shows that the 2020 Yoshinoya annual performance net loss of up to 7.5 billion yen. Due to the impact of the new crown epidemic please Yoshinoya turnover fell sharply, 2020 Yoshinoya has closed 150 stores around the world. Currently, Yoshinoya has more than 1,000 overseas stores globally, of which Chinese stores account for more than 60%.

In August 2020, Yoshinoya announced that it would close 150 stores globally, of which 100 would be closed in Japan and 50 overseas. The news, which also drew a lot of attention from the industry and consumers, said the Chinese market was also involved in the planned store closures. The reason for the closure of stores is due to the epidemic on some of the loss-making stores closed to stop losses.

It is reported that China Yoshinoya has two operating entities *** with the business, respectively, Japan Yoshinoya and Hong Kong-listed Hexing Group. Hop Sing Group operates Yoshinoya stores in Beijing, Tianjin, Hebei and Northeastern provinces as well as Hong Kong under a long-term license agreement with Yoshinoya.

In this regard, Yoshinoya's domestic franchisee, Hop Hing Group, said the store closure plan does not include Yoshinoya stores operated by Hop Hing Group, which is currently operating normally and is still opening stores in Beijing.

In fact, in 2020, under the impact of the epidemic, the catering industry had an exceptionally difficult time. Accompanying the crisis is the reshuffling of the industry and the survival of the fittest, catering brand losses, layoffs, closures, closures are commonplace, and have almost become the norm.?

The epidemic has had a huge impact on China's restaurant industry. According to data released by the National Bureau of Statistics, in 2020, the country's restaurant revenue was 3,952.7 billion yuan, down 16.6 percent year-on-year.?

And the Year of the Ox? Open Door? , in the context of innovation and change, the catering industry is expected to? Ox? Turn dry.