Jollibee Foods Corp. likely exceed its growth targets for 2023 amid sustained strong performance of major brands in the domestic
Jollibee chief finance officer Richard Shin said in a media briefing the group’s first-half financial results were already above the group’s guidance in terms of system-wide sales, same-store sales and operating income.
System-wide sales in the first six months rose 23 percent, beating the guidance of 15 percent to 20 percent for 2023, while first-half same store sales grew 15.1 percent, exceeding the target of 7 percent to 10 percent. Shin said the group was also on track to meeting its target store opening of 550 to 600 stores in 2023.
“The optimism is really coming from seeing month after month of performance from our domestic business and seeing some of our laggards from last year, like Smashburger, turning around,” Shin said.
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