JFC reported an all-time record high of PHP 73.149 billion in system-wide sales. This slightly edged out its previous record system-wide sales of PHP 72.7 billion during the 4th quarter of 2019. What\u2019s more impressive was JFC\u2019s gross profit margin expansion to 17.92%, a 1.1% improvement over the 16.8% last year and even after factoring in the 2.2% increase in inventory costs. Management attributed the Gross Profit Margin expansion to their effective pricing strategies and operation efficiencies.<\/p>\n\n\n\n
The Philippines led the way in terms of same-store sales growth. The Philippines recorded a 51.5% growth in same\u0002store sales for the 2nd quarter of 2022, just ahead of Vietnam\u2019s 50.7%, The Coffee Bean & Tea Leaf\u2019s 16.3%, EMEA 14% and North America\u2019s 7.5%. These effectively tempered the 29.5% decline from its Chinese stores, which were severely affected by lockdowns during the quarter.<\/p>\n\n\n\n
Our view:<\/strong> Jollibee has shown great resilience amidst the difficulties that the business had to face even before the pandemic started. They\u2019ve shown immense grit in pursuing their global ambitions and the results in 2Q should cause their shareholders to be excited. The numbers look great from the limited press release and we hope to dive deeper into their performance when the company holds their analysts briefing next week. JFC is currently trading at a forward 2023 PE of 30.6x which still offers enough upside to its 10-year average Price-Earnings (P\/E) ratio of 42x.<\/p>\n","protected":false},"excerpt":{"rendered":" Here’s a commentary on an important issue or event affecting the stock market <\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-316531","post","type-post","status-publish","format-standard","hentry","category-special-reports","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/316531","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=316531"}],"version-history":[{"count":3,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/316531\/revisions"}],"predecessor-version":[{"id":320487,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/316531\/revisions\/320487"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=316531"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=316531"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=316531"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}