Jollibee Foods Corp. said Friday it is expanding its footprint with the opening of 700 to 800 new stores across its brands and regions in 2025 to drive growth.
The fast-food giant committed to investing between P18 billion and P21 billion in capital expenditures this year to finance the store roll-out.
It expects to achieve an 8-percent to 12-percent growth in system-wide sales (SWS) for the year, with 4-percent to 6-percent growth in same-store sales (SSS).
Operating profit growth is projected to be between 10 percent and 15 percent.
“We remain focused on executing our long-term growth strategy and will continue to put emphasis on shareholder value creation. We are committed to further improving our operational and financial capabilities, pursuing sustainable growth initiatives, and expanding our market presence,” said Jollibee chief financial and risk officer Richard Shin in a statement to the stock exchange.
Jollibee also reported that its net income jumped 17.7 percent in 2024 to P10.3 billion from P8.76 billion a year ago.
System-wide sales, a measure of all sales to consumers both from company owned and franchised stores, rose 13 percent to P390 billion from P345.3 billion in 2023.
Same-store-sales growth of the Philippine business improved 7.5 percent in 2024, while international business grew 2.8 percent.
China’s system-wide declined 8.3 percent, weighed down by a soft macro environment that continued to impact consumer spending.
Shin said that while the group delivered double-digit growth in revenues, operating and net income and improving margins in 2024, the decline in China affected both top line and bottom line.
“The performance of our better burger category was also below expectations. While same store sales growth turned positive during the fourth quarter, we need to further grow average daily sales and continue to work on profitability for this category,” Shin said.
Newly-acquired Compose Coffee contributed positively to the group’s financial performance, adding 7.9 percent to the international business’ system-wide sales growth.
Jollibee ended 2024 with a store network 9,766 including 3,382 outlets in the Philippines and 6,383 branches overseas.