Jollibee Foods Corporation expects both same-store sales and system-wide sales to grow by a single-digit rate this year, even after implementing price increases across its stores, company executives said.
During the Philippine Stock Exchange’s STAR Investor Day, chief financial and risk officer Richard Shin said the company is confident that recent price hikes will have little effect on customer demand.
“We’re not at all worried about the April price increase,” Shin said, adding that the company is taking “disciplined steps” to manage rising costs through carefully measured price adjustments and targeted cost controls.
The company has been dealing with higher operating expenses, particularly after conflict in the Middle East caused inventory costs in its Philippine operations to jump by 330 basis points. Shin noted that Jollibee’s international business did not experience the same level of pressure, with overseas cost of sales remaining relatively stable.
Despite these challenges, Jollibee plans to continue expanding aggressively both in the Philippines and overseas. Shin said the company will keep opening stores in markets with strong demand and favorable returns on investment. He added that lower borrowing costs and an accelerated franchise expansion strategy are helping support growth.
In the United States, Jollibee is seeing strong interest from franchise partners despite inflation concerns. Shin revealed that the company has recently received applications for large multi-unit franchise deals involving 50 stores or more.
The company also highlighted its growing position in the US fast-food market. Jollibee is now ranked as the third-largest chicken restaurant brand in annual unit volume, behind Chick-fil-A and Raising Cane’s. Shin said this places the brand in a strong position as chicken remains one of the fastest-growing restaurant segments in the US.
“We’re in a very good place with a strong brand and we’re only in 15 states in the US,” Shin said.
Jollibee also reported rapid expansion in Asia through its coffee businesses. Its newly acquired Compose Coffee is opening an average of 30 franchised stores per month in South Korea and is expected to add around 360 stores this year.
Meanwhile, Highlands Coffee in Vietnam is set to open 250 new stores in 2026.
The company’s continued expansion highlights its strategy of balancing price increases with aggressive growth, while strengthening its presence in key international markets.
