Restaurant chain operator Jollibee Foods Corp. said it plans to open more than 300 stores next year.
Jollibee chairman Tony Tan Caktiong said in an interview the company would likely have more new stores in 2017, compared to the target of 300 outlet openings this year.
Tan Caktiong said the company remained focus on expanding operations in the Philippines, the United States and China.
The company has been rationalizing its operations in both the United States and China.
The fastfood giant fully divested from Chow Fun Holdings LLC, the developer and owner of a restaurant concept known as Jinja Bar and Bistro in the US for $1.6 million.
It also sold its entire stake in restaurant chain San Pin Wang in China for 90 million renminbi (P650 million) while it gained full control of its food manufacturing venture in China.
Jollibee chief executive Ernesto Tanmantiong said in an earlier statement the company aimed to sustain its strong same-store sales growth and network expansion in the Philippines and abroad with the aim of surpassing historical performance.
“We have to invest heavily, however, in increasing our organization and supply chain capability in the Philippines and abroad as a means of achieving our goal,” Tanmantiong said.
Jollibee opened 201 new stores in the first nine months, consisting of 133 in the Philippines and 68 abroad.
The company was operating 2,565 restaurant outlets in the Philippines and 671 stores overseas as of end-October.
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