WEST COVINA, CALIFORNIA, USA – Media OutReach Newswire – June 25, 2024 – Jollibee North America, known for its acclaimed Chickenjoy recognized as the Best Chain Fried Chicken in America by Eater.com, continues to surge forward with robust growth in 2024 and ambitious expansion plans.
In its latest report for Q1 2024, Jollibee North America posted a significant 25.9% increase in system-wide sales and a 12.3% rise in same store sales, contributing substantially to its parent company, Jollibee Group’s global success and its goal to rank among the top five restaurant companies worldwide.
Customers remain loyal to Jollibee’s signature offerings like Chickenjoy, Spicy Chickenjoy, and Chicken Sandwich, making it one of the top performers among chicken restaurant chains. The brand maintains a diverse customer base, with stores evenly split between Filipino patrons and local American customers.
Jollibee North America currently operates 100 stores across the USA and Canada, marking a 12.4% growth with the addition of 3 new stores in Q1 2024. The opening of its 100th store in Surrey, British Columbia, Canada marks a significant milestone, with plans to open 14 more stores by year-end.
Ernesto Tanmantiong, President and CEO of Jollibee Group, emphasized the company’s commitment to expanding internationally, particularly in the U.S. and Canadian markets: “Our strong performance in North America demonstrates our ability to achieve sustained sales and profit growth. Moving forward, we will prioritize expanding the Jollibee brand globally to drive our business growth. Our focus remains on accelerating our expansion in North America as a crucial part of our global strategy.”
As part of its mid-term strategy, Jollibee North America aims to enhance its digital capabilities to improve efficiency and enhance customer experience and revenue management, aligning itself with global Quick Service Restaurant standards.
Tanmantiong further stated, “While we continue to pursue long-term growth, we remain committed to upholding governance, ethics, sustainability, and responsible business practices. With our robust strategies, strong brand portfolio, and dedicated global team, I am confident we will achieve our goal to triple our value in five years.”
Richard Shin, Chief Financial Officer of Jollibee Group, commented, “We finished 2023 strong and are pleased to start 2024 on a positive note, slightly ahead of our growth targets. Our solid business fundamentals position us well to sustain our growth trajectory, leveraging our strong brands and strategic investments to support our long-term plans.”
Jollibee North America’s expansion strategy focuses on states where it has established a presence, including California, Texas, Florida, New York, Nevada, Maryland, Arizona, Virginia, Illinois, and Washington, while also exploring opportunities in new markets across the U.S.
Recently, Jollibee was recognized as the second fastest-growing restaurant brand globally in Brand Finance’s annual brand ranking report, achieving a remarkable 51% increase to $2.3 billion USD in brand value and advancing from 20th to 17th place in this year’s Global Restaurant Rankings.
The brand also secured fifth place in the strongest restaurant brand category, upgrading its rating from AA- to AAA. Jollibee is the only Philippine brand listed in the 2024 Top 25 Most Valuable Restaurant Brands and Top 10 Strongest Restaurant Brands.
In addition, Jollibee Group has made strides in sustainability, with MSCI upgrading its ESG rating to BB.