Philippine Fried Chicken Giant Jollibee Is Expanding Deliveries
- Jollibee to spend $138 million to transform business structure
- It expects 2020 earnings to decline even as lockdowns to ease
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Jollibee Foods Corp., the Philippines’ biggest food chain owner, will ramp up its delivery, invest more in digital commerce and shut poorly performing stores as it adapts to the pandemic that’s dragging sales and profit.
The company that has built a global presence will spend 7 billion pesos ($138 million) to transform its business structure in its biggest markets which are the Philippines, China and North America, it said in a statement.