Elections help boost Jollibee sales
Jollibee sales grew 14.8 per cent year-on-year to P34.4 billion (US$737.7 million) in the first quarter of 2016, with help from election-related spending and low inflation.
The systemwide sales come from company-owned and franchised stores of Jollibee Foods Corp – the largest foodservice network in the Philippines.
Jollibee Vietnam sales almost doubled, leading Southeast Asia and the Middle East 32.2 per cent growth in the same period.
Jollibee China grew at a slower rate of 1.9 per cent as Yonghe King, JFC’s biggest brand in China faced pressure from recovering competing brands.
JFC attributes the strong same store sales growth to election-related consumer spending and low inflation rate in the country that averaged 1 per cent in the first quarter, which made consumer products more affordable with rising household income.
JFC says its sales were also boosted by continuous product improvement, new products, marketing campaigns and improved restaurant design.
Meanwhile, the foreign business reported a 10.5 per cent growth in systemwide sales for the quarter versus the same period a year ago. The US business grew by 17.4 per cent year-on-year.
As of March 31 2016, JFC was operating 2493 outlets in the country and 650 store abroad.