Jollibee set to open first store in Canada

  • Page Views 3272
  • jollibee

    Jollibee Foods Corp., the biggest fastfood chain in the Philippines, will open its first store in Canada this year. Jollibee chief finance officer Ysmael Baysa said in an interview at the sidelines of the Philipine Investment Forum sponsored by Euromoney the company was looking at Toronto as the site of its first store in Canada.

    “We hope to be in Canada within the year,” Baysa said. Jollibee also plans to open more stores in the Middle East and set foot in Japan and some parts of Europe over the next two to three years.
    Baysa, meanwhile, said it planned to open five Dunkin Donut outlets this year in China.

    Jollibee in December signed a joint venture agreement with Jasmine Asset Holdings Ltd. to operate Dunkin’ Donuts restaurants in selected territories in China.

    Dunkin’ Donuts is one of the world’s largest baked foods and coffee chains, serving more  than 5 million customers a day globally.

    Jollibee committed to invest $180 million in the joint venture while Jasmine would add $120 million.

    Jollibee’s wholly-owned subsidiary Jollibee Worldwide Pte. Ltd. will be responsible for the day-to-day operations of the business.

    Jollibee plans to open 330 stores this year, including 220 in the Philippines and 110 overseas.

    The company’s aggressive store rollout forms part of the P9.1-billion programmed capital spending this year.

    Jollibee operates the largest food network in the Philippines with 2,301 stores as of end 2014. Aside from its flagship brand Jollibee, the fast-food giant owns Chowking, Greenwich, Red Ribbon, Mang Inasal, and Burger King. It operates 612 stores overseas. Jollibee posted a 12.7-percent increase in net income in 2014 to P5.26 billion against P4.67 billion registered in the same period a year ago.

    System-wide retail sales, a measure of all sales to consumers both from company-owned and franchised stores, grew 13.3 percent in 2014 to P117.89 billion from P104.09 billion in 2013.

    The sales growth in 2014 was driven by an eight percent same store sales expansion in local and overseas operations and a 5.4-percent increase in store network. Jollibee in 2014 opened 234 stores, including 169 in the Philippines and 65 abroad. (J. Austria, MS)

    Share

    Related Post

    Related Blogpost

    Leave a Reply

    This site uses Akismet to reduce spam. Learn how your comment data is processed.

    New Posts Recently publish post More

    • 21 October 2021
      52 mins ago No comment

      Alden Richards continues to scale new heights; renews contract with GMA Network

      A proud Kapuso for over a decade: Alden Richards is a name that needs no introduction. With an impressive thread of local and international recognitions, box-office hits, top-rating series, and chart-topping albums, the Kapuso actor has proven worthy of his title as Asia’s Multimedia Star. Last October 15, Alden ...

    • 21 October 2021
      1 hour ago No comment

      ABS-CBN wins Star Awards’ Best TV Station

      ABS-CBN won Best TV Station while its stars and shows also received recognition in the 34th Star Awards for Television held virtually by the Philippine Movie Press Club (PMPC) over the weekend. Among the 24 other winners from the Kapamilya was series Pamilya Ko, which was named Best Primetime ...

    • 21 October 2021
      1 hour ago No comment

      Leni-Pacquiao tandem still possible

      Senator Manny Pacquaio has left the door open to stepping aside as a presidential candidate. Pacquaio has indicated that he may be willing to support the presidential bid of current Vice President Leni Robredo in the May 9, 2022 election. Pacquiao said on October 15 that he would be ...

    • 14 October 2021
      1 week ago No comment

      3 Steps to getting your BC Vaccine Card

      Related

    • 14 October 2021
      1 week ago No comment

      Maria Ressa’s Nobel Peace Prize is an international Rebuke of the Duterte Regime

      The Malaya Movement in Canada congratulates Maria Ressa as co-recipient of the 2021 Nobel Peace Prize. In its announcement, the Nobel Committee cited Ms. Ressa’s efforts to safeguard freedom of expression, which is a precondition for democracy and lasting peace. Ms Ressa …[is] receiving the Peace Prize for [her] ...

    %d bloggers like this: