Jollibee Group earmarks P18B-P21B to open 700-800 new stores in 2025

Homegrown fastfood giant Jollibee Foods Corp. or Jollibee Group is setting its sights on an expansion spree this year with a plan to spend billions of pesos to grow its network of stores in the Philippines and other countries.

“Looking to 2025, the Jollibee Group plans to open 700-800 stores (gross) across brands and regions and spend between P18 to P21 billion on consolidated capital expenditures,” Jollibee Group chief financial and risk officer Richard Shin said in a news release posted on the Philippine Stock Exchange on Friday.

“We expect to deliver an 8% to 12% growth in SWS (system wide sales) in 2025, with 4% to 6% growth in same store sales and store network growth of 4%-8%,” Shin said.

In 2024, Jollibee Group booked a net income of P10.796 billion, up 20.1% from P8.766 billion in 2023.

This was on the back of a 13% growth in SWS to P390.284 billion from P345.324 billion year-on-year.

“The Jollibee Group demonstrated strong performance in 2024, delivering double-digit growth in revenues, operating and net income and improving margins despite challenges in certain regions and categories. As anticipated, our China business experienced strong headwinds putting pressures in both top line and bottom line. The performance of our better burger category was also below expectations,” Shin said.

As of the end of 2024, Jollibee Group’s store network stood at 9,766, up 41.8% year-on-year, broken down as: Philippines (3,382) and international (6,384) —580 in China, 369 in North America, 388 in EMEA (Europe, Middle East, and Africa), 850 with Highlands Coffee mainly in Vietnam, 1,232 with CBTL, 336 with Milksha and 2,629 with Compose Coffee in South Korea.—AOL, GMA Integrated News