LONDON, UNITED KINGDOM – Media OutReach – November 29, 2023 – Jollibee, the global restaurant chain famous for its flagship fried chicken ‘Chickenjoy’, has reported strong growth in the third quarter of 2023 for its UK business. The company achieved 50.5% growth in systemwide sales and 44.3% growth in same-store sales in the third quarter of 2023, driven by significant transaction growth and demand increased consumer demand due to the growing popularity of its best-selling Chickenjoy, Chicken Sandwich and Peach Mango Pie.
|
Jollibee United Kingdom |
Third Quarter Growth vs. SPLY |
Growth YTD 2023 (January-September) vs. SPLY |
|
System-wide sales growth |
+50.5% |
+37.0% |
|
Same-store sales growth |
+44.3% |
+27.5% |
“Our strong results in the third quarter of 2023 confirm our efforts to provide UK consumers with tasty, mouth-watering and great value food offerings,” shared Dennis Flores, Jollibee Group President for Europe, the Middle -East, Asia and Australia. “We are grateful for the continued support from our customers across the UK, with more and more new customers coming to experience our menu items. We look forward to serving their Jollibee favorites in our restaurants or via delivery across the country .”
Jollibee is known globally for Chickenjoy, its flagship fried chicken hand-breaded with a thin, delicate coating for added crispiness, cooked to perfection for added juiciness and flavor, and marinated to the bone to bring out the freshly fried natural taste. chicken. Chickenjoy was named America’s Best Chain Fried Chicken in 2022 by Eater.com, beating out 15 other global brands in four rounds of competition.
Loved by local customers across the UK for its “legitimate heat”, Jollibee’s Spicy Chicken Sandwich features a large chicken fillet hand-double-coated in hot, peppery breading, marinated with a signature spice blend for a juicy, satisfying bite and finished with a sriracha mayonnaise dressing. for an extra kick. Peach Mango Pie, Jollibee’s best-selling dessert made with real peaches and mangoes, was also a hit with local consumers, selling out for weeks when it launched in the UK.
Best-selling Chickenjoy Fried Chicken, Chicken Sandwich and Peach Mango Pie continue to appeal to UK consumers
Strong marketing campaigns for its bestsellers have also contributed to meteoric growth, accompanied by partnerships with major UK aggregators which generate strong delivery sales. Collaborations with popular content creators AJ Clementine and Michelin chef Whyte Rushen have further strengthened the brand’s popularity and appeal among local British consumers, who now make up 80% of Jollibee’s customer base. The brand has also put considerable effort into ensuring consistency in customer experience and product quality, as evidenced by the fact that all 12 of its stores have achieved Google ratings of 4 and above, which is above average compared to QSR industry benchmarks.
Strong growth of the Jollibee group
Jollibee UK’s meteoric growth has contributed to the strong overall performance of its parent company, the Jollibee Group. The Jollibee Group, a company listed on the Philippine Stock Exchange, is one of the world’s fastest-growing restaurant companies, with 18 brands and more than 6,700 stores in 34 countries. Its key brands include Jollibee, The Coffee Bean and Tea Leaf ®, Michelin-starred Tim Ho Wan and top burger chain Smashburger.
Total Jollibee Group system sales increased by 11.8% in the third quarter and 19.1% in the first quarter of September 2023 compared to the same periods last year. Revenues grew along with system-wide sales.
JFC’s strong performance and strong gross profit margin of 18.3% produced a record operating profit of £61.0 million ($77.7 million) for the quarter and a profit margin of exploitation of 7.0%.
Richard Shin, Chief Financial Officer of JFC, commented: “Our strong results for the quarter demonstrate JFC’s continued financial resilience, highlighted by our record system-wide quarterly sales and operating profits. Although the external environment remains challenging, we are confident in our ability to provide sustainable services. growth as we continue to focus on what we can control, invest in line with our long-term strategy, prudently manage our expenses and increase the efficiency of our organization.
At the end of September 2023, the JFC store base increased by 5.8% compared to a year ago. JFC operated 6,720 stores worldwide: Philippines (3,295) and International (3,425): 538 in China, 388 in North America, 330 in EMEA, 725 with Highlands Coffee mainly in Vietnam, 1,132 with CBTL and 312 with Milksha.
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