Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

BRIEF-Jollibee Foods Expects Sales Will Continue To Be Much Lower In Next Few Months

Published 05/22/2020, 11:12 AM
Updated 05/22/2020, 11:20 AM

May 22 (Reuters) - Jollibee Foods Corp JFC.PS :
* TO SPEND 7 BILLION PESOS TO IMPLEMENT SIGNIFICANT CHANGES
TO
GLOBAL BUSINESS STRUCTURE
* CHANGES WILL INVOLVE RATIONALIZATION OF NON-PERFORMING
STORES,
STORE NETWORK, SUPPLY CHAIN FACILITIES AMONG OTHERS
* EXPENSE PROVISION FOR TRANSFORMATION TO BE SET UP IN Q2
2020 &
INCURRED MOSTLY WITHIN 2020
* PLANNED CHANGES WILL TAKE PLACE MOST IMPORTANTLY IN
PHILIPPINES,
CHINA & NORTH AMERICA
* OVERALL SAME STORE SALES GROWTH AT CO-OWNED STORES SINGLE
DIGIT
TO DOUBLE DIGITS IN RECENT WEEKS
* CO'S BRANDS IN DIFFERENT PARTS OF WORLD EXPECTED TO BE
QUITE
RESILIENT
* DELIVERY-TO-HOME & OFFICES BUSINESS AT JFC GROUP CONTINUES
TO
GROW SIGNIFICANTLY
* ESTIMATE THAT CO'S PROFIT FOR 2020 "WILL NOT BE GOOD AT
ALL" DUE
TO OVERALL ECONOMIC ENVIRONMENT
* EXPECTS TO OPEN WORLDWIDE TOTAL OF 171 COMPANY-OWNED NEW
STORES
IN 2020
* PLANNED CAPITAL EXPENDITURES FOR 2020 BEING REDUCED BY 63%
* IN NEXT FEW MONTHS, EVEN AS LOCK DOWNS BEGIN TO BE LIFTED,
FORECAST SALES WILL CONTINUE TO BE MUCH LOWER

Source text https://reut.rs/3bSfZcy
Further company coverage: JFC.PS

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.