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Fastfood chain operator Jollibee Foods Corp. said over the weekend it will continue to monitor the impact of the continued depreciation of the peso against the US dollar on its operations.
He said while the fast-food chain is using forward contracts and hedges to protect them from higher prices in the future, the peso-dollar exchange rate remained a concern over uncertainty on how much further the local currency would depreciate against the dollar.“But it is a concern in the sense how weak is the peso going to go? How strong is the dollar going to go? So those questions are still out there. So we keep monitoring,” he said.
Meanwhile, Shin said the group would continue to expand in China despite the continued challenges. Jolibee’s same-store-sales in China declined 6 percent in the first quarter of 2024. “But nonetheless, we’re in it for the long term in China. But we recognize that the short term is going to be bumpy and has been bumpy in Q1 and will probably continue to be bumpy,” he said.
Indonesia Berita Terbaru, Indonesia Berita utama
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