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Jollibee group sets record store expansion in 2023
the company’s highest ever in its 45-year history.
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Jollibee Foods Corp. (JFC), the global fast food conglomerate of billionaire Tony Tan Caktiong, is preparing its biggest store expansion push in 2023 after last year’s record openings helped fuel earnings past the prepandemic level.
JFC said in a stock exchange filing on Thursday, March 16 it was opening 550 to 600 new branches this year to sustain growth.
It launched 542 stores in 2022—
This comes as the operator of some of the country’s biggest restaurant names such as Jollibee, Mang Insasal and Chowking as well as Coffee Bean & Teal Leaf and Smashburger deepens its global and domestic presence.
On Thursday, JFC announced that net income last year jumped 26.4 percent to P7.56 billion. This was 19.4 percent above its prepandemic net income of P6.33 billion.
JFC, which ended 2022
