McDonalds to open 40 stores in PH
Golden Arches Development Corp., the local master franchise holder of fast giant McDonalds, plans to invest P2 billion in 2018 in rolling out 40 new stores this year as it aims to maintain a double-digit growth.
GADC said in a statement systemwide sales, a measure of all sales by both company-owned and franchised stores, grew 14 percent in 2017 to P42.6 billion, on aggressive store expansion.
“This represents consistent double-digit sales growth for the company. Mirroring this is the growth of net profit after tax,” GADC said.
GADC opened 52 stores last year to end 2017 with 570 stores. It also expanded its footprint in new areas such as Antique, Sorsogon, Masbate and Agusan del Sur.
“We are confident that our expanded presence will also spur employment in our new areas of operations. By opening more new restaurants, we will be able to generate jobs and provide world-class training for thousands of young Filipinos. We also enhance economic activity in areas where we will be present,” McDonald’s Philippines president and chief executive Kenneth Yang said.
Yang cited GACD’s focus on customer experience, strong and sustained demand for its products and convenient services across the country like McDelivery. This allowed McDonald’s to expand its market share and post the fastest growth in the quick service restaurant industry.
“Alongside expansion of our physical stores, we see e-eommerce as another strong source of incremental business growth as our delivery service has been growing year on year. We’re proud of our gains in McDelivery as the first QSR to have an online delivery site in 2009 and an app in 2014,” Yang said.
GADC said with its store network expansion, the company was able to provide jobs to 4,000 Filipinos, consistent with its employment practice of hiring direct employees.
GADC is majority owned by chairman and founder Dr. George Yang and his family. Tycoon Andrew Tan through Alliance Global Group Inc. also holds a 49-percent stake in GADC.