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Tag: JFC

  • Jollibee Foods Reports 5.6% Rise In Q2 Net Income, Fueled By Overseas Growth And Record Sales

    Jollibee Foods Reports 5.6% Rise In Q2 Net Income, Fueled By Overseas Growth And Record Sales

    Jollibee Foods Corporation (JFC), a leading global fast-food company, has reported a 5.6% year-on-year rise in the second quarter’s attributable net income, reaching $57.78 million. This increase was primarily fueled by robust gains from the firm’s overseas operations and record-breaking system-wide sales (SWS).

    Expansion of Global Store Network

    By the end of June, JFC’s global store network had grown by 45.5% compared to the previous year, sporting a total of 10,119 outlets. This figure includes 6,695 international branches spread across China, North America, EMEA, and other key markets in Asia.

    Record Sales and Revenue

    The SWS for the quarter saw a 19.6% increase, reaching $2.06 billion. This was backed by a rise of 32.6% in the company’s international business. The coffee and tea segment emerged as the top performer, registering a staggering 68.6% growth, largely due to the impact of the South Korean brand, Compose Coffee.

    JFC also saw its revenue jump by 15.5% to $1.4 billion. Operating income followed suit, recording a 19.1% rise to $108.72 million. The group’s same-store sales growth registered a respectable 5.5%, with the Philippine business growing by 6.4% and the international business by 4.1%.

    Successful Business Momentum

    JFC’s CEO, Ernesto Tanmantiong, linked these robust results to the company’s ongoing business momentum and improved operational execution. He highlighted the growth in operating income as a testament to the strength of their coffee and tea segment as well as the consistent contributions from their Philippine business and Jollibee International. Tanmantiong also emphasized the effectiveness of their multi-brand and multi-market strategy in driving the company’s success.

    First Half Performance

    For the first half of the year, the attributable net income showed a 0.7% slip to $101.16 million from $101.88 million the previous year. However, SWS experienced a 19.2% growth to $3.92 billion, and the revenue rose by 15% to $2.66 billion. Correspondingly, the operating income increased by 18.4% to $195.3 million.

    Future Investment Strategy

    Richard Shin, the company’s Chief Financial and Risk Officer, explained their capital would be “selectively deployed” in support of growth in the Philippines, Jollibee International, and the coffee and tea segment. He noted early recovery signs in China and a clear turnaround path for Smashburger in the U.S. Compose Coffee is also expected to surpass 3000 stores, with an anticipated 36% return on invested capital this year.

    Questions & Answers

    What contributed to JFC’s growth in the second quarter?
    The growth was primarily driven by robust gains from their overseas operations and record-breaking system-wide sales.

    Which segment emerged as the top performer for JFC?
    The coffee and tea segment emerged as the top performer, registering a 68.6% growth.

    What are JFC’s future investment strategies?
    JFC plans to selectively deploy capital to support growth in the Philippines, Jollibee International, and the coffee and tea segment. They also anticipate growth in China and the U.S. through brands like Smashburger and Compose Coffee.

  • Fast-food chain Jollibee Plans China Rollout

    Fast-food chain Jollibee Plans China Rollout

    Filipino fast food chain Jollibee may open its first location in China within the next five years.

    The firm already has a presence in the territory, where it operates the Dunkin’ Donuts franchise. It also operates eight stores in Hong Kong.

    JFC president and CEO Ernesto Tanmantiong told that the firm is currently looking for a location where there is a high Filipino population, with a view to attracting the local market afterwards.

    “We build the base and slowly cross over to the mainstream market, which is the local market,” said Tanmantiong. “We have done that successfully in Hong Kong and in Singapore.”

    The firm took legal action against a copycat restaurant in China, JoyRulBee, earlier this year.

    Jollibee will open its first store in Rome and Spain shortly while exploring other markets.

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  • Jollibee Sets Up Shop in Manhattan

    Jollibee Sets Up Shop in Manhattan

    Philippine fast-food restaurant chain Jollibee is opening its first Manhattan location next Saturday. The Jollibee Manhattan store will be the brand’s second store in New York State, and the 37th in the US. “We are excited to finally open our doors in the heart of bustling Manhattan, which is not just a centre of business and finance, but a major cultural and entertainment hub that receives millions of visitors from around the world each year,” said Jose Minana, Jollibee Foods Corporation’s (JFC) group president for North America.

    “The diversity of the food culture and the fast pace of living here make it perfect for our new Jollibee store location.”

    Maribeth dela Cruz, VP and GM at JFC North America expects the opening to draw long lines of customers.

    Jollibee Manhattan store located at 609 8th Ave., New York, NY 10018 opens Saturday, October 27. (Photo credit: Elton Lugay (Instagram/elton_lugay))

    To celebration the store, Jollibee will award free Chickenjoy for a year to the first 40 customers in line. Exclusive Jollibee Funko Pop! figures and other Jollibee collectibles will be up for grabs, too, to mark Jollibee’s 40th anniversary.

    Jollibee operates in 20 countries, with more than 4200 stores globally. The first North America store was opened in 1998 in California.

    JFC has an 85 per cent stake in US burger chain Smashburger, and has recently entered into an agreement with Mexican fast-casual restaurant chain Tortas Frontera for expansion.

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  • Jollibee Winnipeg first Canadian foothold

    Jollibee Winnipeg first Canadian foothold

    Filipino restaurant company and global fast-food chain Jollibee Foods Corporation (JFC) has opened its first Canadian outlet, Jollibee Winnipeg.

    With 35 stores already in North America, it plans to continue its march into Canada with three more outlets next year, at Winnipeg Northgate, Scarborough, and Mississauga, to be followed by Edmonton in 2018.

    In the US, it is also set to open its first store in the state of Florida, in Jacksonville, and its first store for Manhattan, New York.

    “It has been a joy to see the happiness families experience when visiting our locations in the US, and we are thrilled to now bring that same feeling into Canada at such a festive time like this,” says JFC group president for north America and foreign franchise brands Jose Minana.

    “Winnipeg is a fitting choice for Jollibee’s first Canadian store because it has largest density of Filipinos to the total population of the city,” says JFC North America VP/GM Maribeth dela Cruz.

    JFC is currently the largest Asian restaurant company in market capitalisation, working in 12 markets including Brunei, China, Hong Kong, Singapore and Vietnam. It has 3236 stores globally, of which 1111 are Jollibee branded. Other brands in its portfolio are Burger King, Chowking, Greenwich, Hong Zhuang Yuanm Mang Inasal, Red Ribbon and Yonghe King.

    JFC also has investments with the brands 12 Hotpot, Highlands Coffee, Pho 24, Dunkin Donuts in China, and US-based burger chain Smashburger.

  • Jollibee Foods counts down to 1000

    Jollibee Foods counts down to 1000

    Jollibee Foods (JFC) has opened the 991st branch of its flagship brand Jollibee in the Philippines, in the Ma-a area of Davao.

    It marks the start of its countdown to its 1000th store, to be unveiled in the first quarter of next year. Its expansion is spread around Cebu, Luzon and Metro Manila “so all the regions will be well represented”, says Jollibee corporate PR and events manager Dennis Reyes.

    “The 1000th store is symbolic, but we cannot divulge yet the exact location,” he says.

    The company opened its first branch in Cubao, Quezon City, and its latest story is the 26th in Davao and 115th in Mindanao.

    Reyes says the countdown campaign is part of Jollibee’s way of thanking its patrons, celebrating its continued expansion as well as the contribution to the local economy with an average of 70 jobs created for every new branch.

    JFC is investing P10.4 billion (US$214.8 million) for capital expenditure this year, with P7.5 billion set for the opening of 200 outlets as well renovations.

    For its latest six months, JFC netted P3.06 billion, or 13.4 per cent more than the same period last year, following a 14.9 per cent increase in system-wide retail sales to P71.45 billion.

    At the end of June, the company had 2528 restaurant outlets in the Philippines under the brands Burger King (62), Chowking (457), Greenwich (237), Jollibee (939), Mang Inasal (455) and Red Ribbon (378).

    JFC also has a 50 per cent interest in 12 Hotpot, Highlands Coffee and Pho 24 (Vietnam), plus a 40 per cent interest in Smashburger (US).

    Outside the Philippines, Jollibee has 80 stores including Vietnam (32) and Hong Kong (1).

  • Elections help boost Jollibee sales

    Elections help boost Jollibee sales

    Jollibee sales grew 14.8 per cent year-on-year to P34.4 billion (US$737.7 million) in the first quarter of 2016, with help from election-related spending and low inflation.

    The systemwide sales come from company-owned and franchised stores of Jollibee Foods Corp – the largest foodservice network in the Philippines.

    Jollibee Vietnam sales almost doubled, leading Southeast Asia and the Middle East 32.2 per cent growth in the same period.

    Jollibee China grew at a slower rate of 1.9 per cent as Yonghe King, JFC’s biggest brand in China faced pressure from recovering competing brands.

    JFC attributes the strong same store sales growth to election-related consumer spending and low inflation rate in the country that averaged 1 per cent in the first quarter, which made consumer products more affordable with rising household income.

    JFC says its sales were also boosted by continuous product improvement, new products, marketing campaigns and improved restaurant design.

    Meanwhile, the foreign business reported a 10.5 per cent growth in systemwide sales for the quarter versus the same period a year ago. The US business grew by 17.4 per cent year-on-year.

    As of March 31 2016, JFC was operating 2493 outlets in the country and 650 store abroad.

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