This will serve as the largest addition to its North America network in the company’s history.
Philippine fast food conglomerate Jollibee Foods Corporation (JFC) announced plans to open 28 stores in the United States and Canada this year, part of a longstanding plan to expand in North America.
In a regulatory filing, JFC said 18 stores will be in the US whilst the other nine will be in Canada. It targets to have 300 stores in North America by 2024.
Jollibee ended Q3 with a net loss of P1.58 billion, marking a 194.5% drop from the P1.67 billion net income recorded in the same period in 2019. This brought the nine-month net loss down 424.4% to P13.5 billion compared to the P4.1-billion net income in 2019.
The company ended September 2020 with a total of 1,185 operating stores, after 19 were closed due to the lockdown restrictions implemented to curb the spread of COVID-19. As of that month, it has 45 Jollibee stores in the United States, and 10 in Canada. It also operates 33 Red Ribbon stores and 15 Chowking stores in North America.
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