PUBLICLY listed Jollibee Foods Corp. (JFC) launched on Monday its 1,000th store in the Philippines, cementing its leading position in the quick-service restaurant segment.
Without citing the exact amount of investment, Jollibee Philippines President JJ Alano told the BusinessMirror they have spent “tens of millions of pesos” for this company-owned milestone outlet at Bonifacio Global City (BGC) Triangle Drive in Taguig.
Following this development, the top executive said they will continue with their expansion plan here and abroad.
“This year, for total JFC, I think we intend to open 300 plus stores, including other brands,” he said.
For JFC Philippines, more than 200 stores across all brands nationwide are in the pipeline for the entire 2017, he said.
Meanwhile, for Jollibee alone, he said they will open anywhere between “70 to 100” additional branches for the rest of the year.
“Whatever the capex [capital expenditure] is, it’s worth the investment,” Alano added.
The sixth in BGC and the 16th in Taguig City, the newly opened Jollibee branch features a “modern tropical-design concept” that includes a 27-foot long mural along its drive-through lane. The mural comprises of images of the Philippine eagle, a carabao and a sarimanok.
This branch features the latest modern tropical-design concept that’s expected to appeal to customers of all ages. It has a seating capacity of 350 people and two spacious party areas.
“We couldn’t have chosen a better location than Bonifacio Global City here in Taguig, as the progressive and dynamic vibe of this community is very much aligned with our vision of the future for Jollibee,” he said.
Reaching a network of 1,000 Jollibee stores since its inception in the late-1970s with a modest ice-cream parlor in Cubao, Alano recognized this as a “special milestone” for the company since it is part of a “competitive” industry.
He attributed the company’s success to their business partners, franchisees and the continuous patronage of their customers here and abroad.
Looking forward, JFC CEO Ernesto Tanmantiong expects the homegrown brand to constantly bring honor for the country and its people. “May we continue to make Jollibee a source of pride, hope and joy for our fellow Filipinos here and across the globe!” he said during the ceremonial Chickenjoy Toast.
JFC reported its system-wide sales—a measure of all sales to consumers, both from company-owned and franchised stores—grew by 12.2 percent to P38.5 billion in the first quarter of 2017, from P34.3 billion during the same period last year.
“That’s 5-percent same store sales and 7.2 [percent] on growth on store network,” Alano added.
Philippine brands posted an 11.8-percent increase, of which 6.8 percent came from store-network growth and 5 percent from same-store sales hike. The foreign business accelerated to a 13.7-percent growth, from 8.7 percent in 2016.
Revenues increased by 12.2 percent, from P26.1 billion to P29.3 billion during the two periods in review, as net income grew by 2.9 percent, from P1.4 billion to P1.5 billion.