What's Next for Jollibee After Opening Its First Store in Pennsylvania?

Jollibee Foods Corp. said that it would open 500 stores in 2022.
IMAGE JOLLIBEE

Another new Jollibee restaurant in the west, another milestone for one of the Philippines' proudest exports. Jollibee Foods Corp. (JFC) opened its first store in Philadelphia, Pennsylvania as the group continues its expansion in the North American market.

The opening of Jollibee Philadelphia marks its 85th location in the region. In August, the much-anticipated Jollibee Times Square was established, coming during a time when Vox's Eater.com had named Jollibee Chickenjoy as the "best chain fried chicken" in America.

“It has been a goal of ours to open a location in Philadelphia for some time and we are honored to be a part of this extraordinary city," Jollibee Group North America President Maribeth Dela Cruz said. "We are truly humbled by the warm and joyful welcome we received on opening day, and we are grateful to be part of this dynamic city full of rich history, culture, and incredible food."

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The new store also happens to be Jollibee's first in all of the state of Pennsylvania. "We are deeply grateful for the appreciation of Philadelphians who came and made our opening day memorable," Dela Cruz added.

In the first half of 2022, JFC had tallied 230 stores worldwide, reporting P73.1 billion in system-wide sales. The figure was a record-high for the brand, which is a 44.8-percent increase from the P50.5 billion the company earned in the previous year. Jollibee's total revenues for the first six months of this year is at P94.908 billion. This is a 33-percent increase from the P71.370 billion it earned in the same period the year prior. Net income, on the other hand, clocks in at P5.1 billion so far.

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JFC said last year that it hopes to open 500 new stores this year, which would be on par with its pre-pandemic numbers. The group invested P17.8 billion for capital ventures for this year, up P7.8 billion from 2021. In the first quarter of 2022, the group had announced that it had already opened 107 stores worldwide. If it maintains this pace, chances are, JFC could more or less meet its initial 2022 forecast.

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