Jollibee set to open first store in Canada

  • Page Views 1359
  • 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

    New Posts Recently publish post More

    • 23 May 2018
      11 hours ago No comment

      Remittances decreased in March

      Money sent home by Filipinos working overseas declined 9.8 percent year-on-year in March, the biggest drop in 15 years, following the repatriation of Filipinos from Kuwait. Data from the Bangko Sentral ng Pilipinas showed the decline in remittances in March was the sharpest since the 10.9-percent fall in April ...

    • 23 May 2018
      13 hours ago No comment

      P16B cruise port proposed

      Port mogul Enrique Razon has offered to build a $308-million cruise port facility in Manila. The project has obtained the support of President Duterte as the proposal is in line with the government’s National Cruise Tourism Development Strategy (NCTDS). Razon through his real estate company Sureste Properties Inc. proposed ...

    • 20 May 2018
      3 days ago No comment

      Poke-what?

      Two decades ago somewhere in Tokyo, a young Japanese boy spent his playtime catching all sorts of insects and tadpoles. Over time the young boy’s obsession of catching creatures evolved into a hobby that created a game of catching, training and trading creatures – all in an electronic world. ...

    • 20 May 2018
      3 days ago No comment

      Just another day in political paradise

      I must admit, I had high hopes for politics in Canada. After being exposed to the politics we have in the Philippines, it is no wonder that you do not see a lot of Filipino-Canadians running for office here or any other part of the world. We have been jaded ...

    • 20 May 2018
      3 days ago No comment

      TRAIN law exceeds revenue target

      In first quarter The government registered a net revenue gain in the implementation of the Duterte administration’s first tax reform law in the first three months of the year owing to higher taxes remitted by the tobacco industry. Instead of a net loss of at least P3.2 billion in ...

    %d bloggers like this: