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The fast food chain’s KFC restaurant chain in North Carolina is currently experiencing a significant growth spurt, with the company’s latest earnings report indicating the company is on pace to exceed its target to reach $1 billion in revenue by 2022.KFC has been growing in popularity since it was founded in 1946, with many fast food restaurants including McDonald’s and Burger King opening in the U.S. in the late 1970s.
Today, KFC has a total of 14 restaurants across the U-S.
with a combined total of nearly 2,500 locations.
The company’s Kwik Stop franchisee in Virginia was the only location to remain open in the wake of the recent floods.
While the company did not disclose exact revenues, the company reported $4.8 billion in adjusted profit for the third quarter of 2022.
The adjusted profit margin for the North Carolina franchisee business was 19.7 percent.
While KFC’s results have been good for the company, it has had a difficult year as the floods and wildfires have forced the closure of restaurants.
The company is now facing a $9.7 billion cash infusion from investors.
KFC said in its third quarter earnings call that it has “received a $6.5 billion capital infusion.”