Jollibee Foods Corp. reported a 17 percent decline in first-semester net income this year, falling to P4.92 billion from P5.91 billion in the same period last year, even as a solid second-quarter performance could not offset earlier pressures.
System-wide sales for the January–June period still rose 12 percent to P244.67 billion, up from P217.73 billion a year prior. The second quarter alone showed clear improvement: net income grew 3 percent to P3.52 billion, while system-wide sales increased 14 percent to P130.8 billion.
Company officials noted the second quarter marked a recovery from cost pressures seen in the first three months. Reported quarterly earnings were reduced by P239 million in transition costs, mainly from store closures and lease ends linked to the shift of Yonghe King and Smashburger toward mostly franchised operations.
“Our second-quarter results show the continued strength of our global brands and steady consumer demand across key markets. We posted healthy sales growth across all regions, supported by strong performance at home and abroad, rising same-store sales, and ongoing store network expansion,” said Jollibee Group CEO Ernesto Tanmantiong.
Richard Shin, the company’s chief financial and risk officer, added: “The second quarter is an important step forward in our earnings momentum. Price adjustments rolled out in April, paired with efficiency measures and cost controls, helped lift gross profit margins and improve operating and net income margins.”
Looking ahead to full-year 2026, the company kept its system-wide sales growth target at 8 to 12 percent and store network growth at 5 to 10 percent. It revised same-store sales growth guidance to 3 to 4 percent and set a new gross store-opening target of 1,000 to 1,100 locations. Despite the lower opening target, overall network growth remains on track due to portfolio optimization and store opening and closing schedules. Capital expenditures are now projected at P13 billion to P15 billion, while operating income growth guidance was adjusted to 10 to 15 percent, reflecting updated sales assumptions, transition costs in China and for Smashburger, and an uncertain cost environment.
