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Jollibee Foods Corp. (JFC) announced on Wednesday
that its banner brand, Jollibee, returned to mainland China, after a
brief stint that ended in 2002.
In a disclosure to the Philippine
Stock Exchange, JFC said it opened a new store under the Jollibee
brand in Shenzhen, mainland China, bringing the group’s network to
1,645 stores worldwide.
This is the first Jollibee store
in China since it ended a five-year trial in Xiamen starting 1998.
JFC said raw material costs would
continue to rise until the second quarter but at end-February sales
growth remains strong.
This year, the group plans to
open more stores abroad, particularly the Jollibee brand in the US,
and Yonghe King in mainland China.
At end-February, the group
operates 1,385 stores in the country, 625 of which are Jollibee, 376
Chowking, 237 Greenwich, 192 Red Ribbon, 27 Delifrance, and two
Manong Pepe. JFC has 186 stores abroad, including Yonghe King and
Chun Shui Tang stores in China, and Jollibee and Chowking stores in
the US. It also operates Chowking in Dubai and Indonesia, as well as
Jollibee stores in other countries.
--Likha C. Cuevas-Miel
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