Jollibee keeps 2025 growth goal despite weaker Q1

Jollibee Foods Corp. (JFC) has maintained its full-year growth target despite a weaker first quarter.

The homegrown multinational firm is confident that its sales growth momentum will continue in the coming months.

Richard Shin, JFC chief financial and risk officer, said in their disclosure on Friday they would “remain proactive in managing macroeconomic and financial headwinds” this year.

“We are confident in our strategy and execution and, accordingly, we are reaffirming our full-year guidance,” Shin added.

For the year, Tony Tan Caktiong-led JFC expects to grow system-wide sales (SWS) by up to 12 percent, and same-store sales by as much as 6 percent.

This came as the Jollibee group booked lower earnings in the January to March period due to “nonoperational factors.” JFC’s bottom line during the period declined by 8.1 percent to P2.41 billion.

Meanwhile, both the domestic and international segments boosted SWS by 18.9 percent to P103.2 billion. In the Philippines, SWS was up by 8.5 percent.

This was mainly because of higher gains from Mang Inasal and the flagship Jollibee brand. Newly acquired Compose Coffee bolstered the international business, whose SWS surged by 29.5 percent. The South Korean coffee brand contributed 17.8 percent to the global business.

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JFC’s coffee and tea segment, which now accounts for 45.4 percent of global SWS, surged by 62.2 percent.

Geographically, the market in China remained a challenge due to economic difficulties.

The group’s China business declined by 8.3 percent. As of end-March, JFC had expanded its store network by 44.3 percent to 9,935.