Jollibee slashes capital expenditure targets

The group has also decided to reduce restaurant openings.

Jollibee Food Group lowered the upper end of its 2026 capital expenditure guidance to $245m (P15b) from $261.3m (P16b), keeping the lower end unchanged at $212.3m (P13b) for the full year 2026.

This comes as Jollibee also revised its same-store sales growth guidance for the year to 3% to 4% from a previous 4% to 6%.

Gross new store opening targets were also reduced to 1,000 to 1,100 stores from 1,200 to 1,300 stores before.

“Operating income growth guidance is revised to 10%-15%, reflecting the updated same-store sales assumptions, the revised expansion assumptions, continued transition-related costs for China and Smashburger, and the still-dynamic cost environment,” Jollibee said.

The news comes as Jollibee's net profits were down 13.3% in H1 2026.

Jollibee maintains its guidance for system-wide sales growth of 8%-12% and store network growth of 5%-10%.