Jollibee made a high-profiled opening of its branch in Time Square, New York City last week. PHOTO FROM JOLLIBEE FACEBOOK PAGE
Jollibee made a high-profiled opening of its branch in Time Square, New York City last week. PHOTO FROM JOLLIBEE FACEBOOK PAGE

THE price of Jollibee Foods Corp. (JFC) shares went down by 1.72 percent from its previous price last August 15, or to P228.32 from P232, despite the local market gaining ground last week.

Over a 52-week period, JFC's highest closing price was at P259.80 per share on Nov. 9, 2021 and its lowest closing price was P192.00 on June 17, 2022. Its net profits and losses over the past three years were as follows: P7.51 billion in profit in 2019; P12.63 billion in losses in 2020; and P5.50 billion in profit in 2021.

JFC reported on Aug. 11, 2022 record-high systemwide sales in the second quarter. Systemwide sales, both from company-owned and franchised stores, increased by 44.8 percent to P73.1 billion in the second quarter of 2022, driven by 32.6-percent same-store sales growth, 7.2 percent from new stores and 5-percent favorable foreign currency translation.

Revenues also grew by 41.9 percent to P52.1 billion.

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Same-store sales for the Philippine business also increased by 51.5 percent in the second quarter of 2022 compared to the same quarter last year as brands under JFC registered strong double-digit growth as demand for fast food bounced back with the easing of Covid-related restrictions in many parts of the country.

Jollibee Foods was incorporated on Jan. 11, 1978, and its principal business is the development, operation and franchising of quick service restaurants (QSRs) under the trade names Jollibee, Chowking, Greenwich, Red Ribbon, Yong He King, Hong Zhuang Yuan, Mang Inasal, Burger King, Highlands Coffee, PHO24, Hard Rock Café, Dunkin' Donuts, Smashburger, Tim Ho Wan, Tortas Frontera, The Coffee Bean & Tea Leaf, Panda Express and Yoshinoya.

The other activities of JFC include manufacturing and property leasing in support of the QSR systems and other business activities.

Aside from the subsidiaries that develop and operate the company's QSR trade names, JFC wholly owns Freemont Foods Corp. that owns and operates Jollibee stores in the Visayas and Mindanao, and Grandworth Resources Corp., a real estate company which owns or leases some of the properties used as store sites.