Macquarie: Maintains outperform rating on Vipshop (09987) as first quarter sales align with company's strategy.

Financial news app Zhitong learned that Morgan Stanley released a research report stating that same-store sales for KFC and Pizza Hut, subsidiaries of the China-based Yum China Holdings (09987), remained flat in the first quarter of this year, with foot traffic increasing by 4% and 17% respectively, in line with the company's strategy. The bank adjusted its net profit forecasts for this year and next year by 0.7% and 0.5% respectively, maintaining an "outperform" rating. The company retains its goal of unit sales growth and opening 1,600 to 1,800 new stores annually. As for KCOFFEE, the current number of stores has exceeded 1,000, which is expected to bring additional single-digit growth to same-store sales. The company has increased the year-end opening target for KCOFFEE to 1,500 stores.