Jollibee to restore full menu this week
MANILA, Philippines – Jollibee Foods Corporation (JFC) has announced that all stores that had been closed due to lack of products resulting from distribution problems re-opened on Sunday, August 17.
In a disclosure to the Philippine Stock Exchange on Monday, August 18, JFC said these stores are located mostly in Metro Manila and that the biggest-selling products, particularly the popular "Chicken Joy," are now available.
Some lower-selling products are not yet available in some stores, the company added, while all products are expected to be available within the week.
"The JFC Group of Companies looks forward to the full restoration of its excellent service to its customers and the complete availability of its products in all the stores in the Philippines."
On August 17, total system-wide sales in the Philippines amounted to P288.3 million ($6.6 million*), representing a growth of 28.2% versus the same Sunday a year ago (August 18, 2013). In the month of July, system-wide sales grew 15%.
System-wide sales during the first 17 days of August amounted to P800 million ($18.31 million). This represented a growth of 7.7% over the same period in August 2013.
Same store sales growth on August 17 was 23.2% versus the same Sunday a year ago. This compared with a 10% growth in the month of July. During the first 17 days of August, same store sales went up 6%. Same stores sales come from stores that have been opened for at least 15 months and exclude sales generated by recently opened outlets.
"Sales for August 17 were very strong across the brands despite the limited availability of non-core products in some stores. The sales growth was very significant, most likely due to pent-up demand resulting from the lack of available products in the past two weeks," JFC said.
“Moving forward, sales growth will likely stabilize at 8%-10% on a same store basis, comparable to the growth rates in recent quarters," it added.
Between July 31, 2013 and July 31, 2014, 139 outlets were opened by JFC in the Philippines, representing a growth in its store network of 6.6% (net of outlet closures).
As of July 31, 2014, it was operating 2,245 restaurant outlets in the country and 588 overseas. – Rappler.com
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($1 = P43.64)