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Food for Thought
Yum!, which owns Taco Bell, Pizza Hut and Kentucky Fried Chicken, may have saturated the U.S. market, said Cramer, but it has far from saturated the market in China.The company has 2280 stores in China, said Cramer, and he expects China to generate 35% of Yum!'s growth through 2007. Additionally, in 2004, 15% of Yum!'s operating profit came from China, said Cramer. By 2007, Cramer expects that number to be 25%. In response to a question about Starbucks (SBUX - Get Report) as a play on China, Cramer said the company doesn't yet have the critical mass necessary to see a lot of benefit from China. However, he expects Starbucks to be a China play in the future. Commenting on restaurant stocks in the U.S., Cramer reiterated his bullishness on McCormick & Schmick's Seafood Restaurant (MSSR) and Ruth's Chris Steak House (RUTH - Get Report).