Jollibee Foods (JFC) has opened the 991st branch of its flagship brand Jollibee in the Philippines, in the Ma-a area of Davao.
It marks the start of its countdown to its 1000th store, to be unveiled in the first quarter of next year. Its expansion is spread around Cebu, Luzon and Metro Manila “so all the regions will be well represented”, says Jollibee corporate PR and events manager Dennis Reyes.
“The 1000th store is symbolic, but we cannot divulge yet the exact location,” he says.
The company opened its first branch in Cubao, Quezon City, and its latest story is the 26th in Davao and 115th in Mindanao.
Reyes says the countdown campaign is part of Jollibee’s way of thanking its patrons, celebrating its continued expansion as well as the contribution to the local economy with an average of 70 jobs created for every new branch.
JFC is investing P10.4 billion (US$214.8 million) for capital expenditure this year, with P7.5 billion set for the opening of 200 outlets as well renovations.
For its latest six months, JFC netted P3.06 billion, or 13.4 per cent more than the same period last year, following a 14.9 per cent increase in system-wide retail sales to P71.45 billion.
At the end of June, the company had 2528 restaurant outlets in the Philippines under the brands Burger King (62), Chowking (457), Greenwich (237), Jollibee (939), Mang Inasal (455) and Red Ribbon (378).
JFC also has a 50 per cent interest in 12 Hotpot, Highlands Coffee and Pho 24 (Vietnam), plus a 40 per cent interest in Smashburger (US).
Outside the Philippines, Jollibee has 80 stores including Vietnam (32) and Hong Kong (1).