Jollibee Q2 sales climbs 16.9% in Q2

It's China business fueled the Philippine-based company’s international growth.

Philippines-based fast-food giant Jollibee Foods Corporation reported a system-wide sales (SWS) growth of 16.9% in the second quarter of the year, with half-year sales surging 23.3%, according to a filing in the Philippine Stock Exchange.

For the quarter, system-wide sales of the Philippine business grew by 14.5% whilst international business increased by 20.9%, fueled by the China business which posted a growth of 76.9%. SWS of North America and EMEA Philippine brands grew by 15.1% and 16.1%, respectively. SWS of JFC’s coffee and tea business increased by 11%. The Jollibee brand, which has over 1,600 stores globally and accounts for 49% of JFC’s SWS posted a robust growth of 16%.

Global same-store sales (SSS) for the quarter increased by 9% driven by a 6.5% growth in transaction count or volume and a 2.4% growth in average check. Performance across regions/ brands was mixed. The Philippines grew by 11.3% driven by an improvement in volume or transaction count (7.1%) and an increase in average check (3.9%). International SSS% grew by 5%, led by China (35.3%), EMEA Philippine brands (5.1%) and North America (2.6%).

Same-store sales of JFC’s coffee and tea business declined by 1.8%. CBTL was -0.4% due to the high-base effect, particularly for Singapore and Malaysia where coffee sales in Q2 2022 rebounded from pre-pandemic levels driven by the reopening of international borders. Highlands Coffee saw its SSS% fall 7.5% due to weak demand.

“As a result of JFC’s continued strong topline growth and prudent management of expenses, JFC generated an operating profit of Php4.0 billion during the quarter. This represents an increase of 31% compared to the operating profit for the second quarter of 2022 and 11.1% higher compared to the first quarter of 2023. Our operating profit margin for the quarter proved resilient, improving both on year-on year (70 bps) and quarter-on-quarter (10 bps) metrics. JFC’s financial results for the second quarter and first half affirm our confidence in our full-year guidance for 2023,” Ernesto Tanmantiong, CEO of Jollibee Food Corporation said.

Follow the link for more news on

Jollibee

Also Read

Weekly Global Wrap: Weight loss drug drags restaurant spend; Paris Baguette opens in the Philippines; Starbucks unveils 20% less plastic cups

Weekly Global Wrap: NYC restaurant employs virtual cashiers; Wow Boa launches metaverse loyalty activation; Wendy's offered free Frostys during eclipse

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit