According to my research, the investors dumped shares of fast-food giant Jollibee Foods Corp, dragging

down the main stock barometer on Tuesday (May 26), in anticipation of poor earnings due to the novel
coronavirus disease (COVID-19) pandemic. Stocks of Jollibee, the day's most actively traded, slid by
10.53 percent to close at P119 a share. Due to pandemic JOLLIBEE Foods Corp. (JFC) swung to a P1.58
billion net loss in the third quarter, a reversal of its P1.67 billion profits a year ago, as it continued
suffering from dampened sales due to coronavirus-related restrictions. The JFC reopen stores
introducing new products, resuming strong marketing campaigns, strengthening the systems and
infrastructure particularly for digital connections with the customers and for off-premise consumption of
the products and opening of new stores mostly in our international business.

Jollibee Foods is set to open 171 stores globally and renovate outlets this year, aiming to capture prime
locations made available i a weak economic climate brought on by the coronavirus pandemic. While that
number of planned n stores is less than it predicted prior to the advent of Covid-19, the company still
sees an opportunity to expand despite an extremely challenging start to the year globally. The firm will
also spend US$137.9 million on a restructure of its international business, which will include attention to
non-performing stores, store network, supply chain facilities, and management and support group
structure. Jollibee Foods will devote some resources to the establishment of new delivery and take-out
services - including unmarked delivery outlets without dine-in facilities in anticipation of a slow return to
business-as-usual following the resolution of the pandemic.