International Developmental Licensed Markets
Comparable sales rose 1.9% in Q2 2026, the fastest of the three segments, even as growth slowed from 2025.
The numbers
What it is
Markets run by developmental licensees and affiliates, including the equity-method stakes in China and Japan. The company invests little restaurant capital here and earns royalties, so growth in this segment mainly reflects partners' openings and sales.↗ source
Why it matters to the stock. Royalty income from this segment is high-margin, and partner openings in China and Japan drive its growth.
News
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