Jollibee set to open first store in Canada

  • Page Views 3172
  • 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

    • 14 January 2021
      6 days ago No comment

      Philippines confirms first case of COVID variant

      The Department of Health (DoH) on Wednesday (January 13) confirmed that the COVID-19 variant first reported in the United Kingdom has reached the Philippines. The B117 variant was detected in a sample taken from a Filipino who arrived from the United Arab Emirates (UAE). The male patient from Quezon ...

    • 08 January 2021
      2 weeks ago No comment

      Markus & Janella proud new parents to son Jude, no wedding bells yet

      Actor Markus Paterson shared his happiness now that he and his girlfriend Janella Salvador finally introduced their baby Jude to the public. Paterson opened up about their son on Wednesday in the online show “We Rise Together.” “Well ‘yung proseso? Well, alam naman na one day we are going ...

    • 07 January 2021
      2 weeks ago No comment

      Bea Alonzo claims 2021 will be a ‘spiritual year’ for her

      Actress Bea Alonzo on Sunday took to social media to share her realizations on life as she welcomes the new year. On Instagram, Alonzo said she hopes to emerge a better person in 2021. “Let the sunshine in. Last year brought so many changes in my life, and changes ...

    • 07 January 2021
      2 weeks ago No comment

      Santos to file ABS-CBN renewal bill in the House after Sotto filed in the Senate

      Reacting to a query from reporters, Deputy Speaker and Batangas Rep. Vilma Santos said she will revive the rejected ABS-CBN legislative franchise application in the House of Representatives before session resumes on January 18. Santos welcomed the move by Senate President Vicente Sotto III who filed a bill granting ...

    %d bloggers like this: