Jollibee set to open first store in Canada

  • Page Views 3770
  • 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 March 2024
      7 days ago No comment

      Canada eyes space cooperation with Philippines

      The Philippines held its first space cooperation conference on March 19, 2024 as the country seeks to explore opportunities presented by the heavens. The conference was organized by the Stratbase Albert del Rosario Institute for Strategic and International Studies, a Metro Manila-based think-tank; the fledgling Philippine Space Agency; and ...

    • 14 March 2024
      2 weeks ago No comment

      Mable endorses campaign for Benson Flores marker

      Mable Elmore is supporting the campaign to raise funds for a memorial marker for pioneer immigrant Benson Flores. Elmore is the Member of the Legislative Assembly of British Columbia for Vancouver-Kensington, which is also home to Mountain View Cemetery where Flores is buried in an unmarked grave. MLA Elmore ...

    • 07 March 2024
      3 weeks ago No comment

      Quiboloy church linked to fake marriages in Canada

      Some 100 allegedly fraudulent marriages in Canada are connected to the religious group led by the spiritual adviser of now former Philippine president Rodrigo Duterte. This stunning allegation was made on March 5, 2024 by Dindo Maquiling, a former follower of Apollo Quiboloy. Maquiling is a former executive director ...

    • 07 March 2024
      3 weeks ago No comment

      MP Valdez Visits Vancouver

      Liberal MP Rechie Valdez visited Vancouver to meet with BC Business owners at the Dubai National Air Travel Agency (DNATA) Catering in Richmond recently. The meet and greet was an opportunity for local businesses to dialogue directly with Valdez whose portfolio includes small businesses. The roundtable discussion was led ...

    • 29 February 2024
      4 weeks ago No comment

      Minimum wage increases to $17.40 an hour on June 1 VICTORIA

      For Immediate Release Feb. 26, 2024 VICTORIA – B.C.’s lowest-paid workers will get a pay raise when the general minimum wage increases from $16.75 to $17.40 per hour on June 1, 2024. This represents a 3.9% increase, consistent with B.C.’s average rate of inflation in 2023. The alternate minimum ...

    %d bloggers like this: