The JFC Group operates restaurants in 34 countries, the largest of which in terms of

contribution to system-wide sales, a measure of all sales to consumers- both from

company-owned and franchised stores, are the Philippines, the United States of
America including Canada, China and Vietnam. The impact of COVID-19 to the
operations of restaurants varies quite significantly at different countries and changing on
a daily basis.
In the Philippines, in a move to contain the COVID-19 outbreak, on March 13, 2020, the
Office of the President of the Philippines issued a Memorandum directive to impose
stringent social distancing measures in the National Capital Region effective March 15,
2020. On March 16, 2020, Presidential Proclamation No. 929 was issued, declaring a
State of Calamity throughout the Philippines for a period of six (6) months and imposed
an enhanced community quarantine throughout the island of Luzon until April 12, 2020,
unless earlier lifted or extended. These measures have caused disruptions to
businesses and economic activities, and its impact on businesses continue to evolve.
About 70% of JFC Group’s domestic stores have been temporarily closed, resulting to a
decline in system wide sales.
In terms of the Statement of Income, the rate of change is unfavorable to the company,
with a decrease in sales of -28.01 percent compared to 11.45 percent in the 2019 Sales
Report. In 2020, Jollibee Food Corporation's assets, on the other hand, grew by 10.96
percent, totaling 220,177,000, compared to 198,435,000 in 2019. Also, the liabilities of
Jollibee Food Corporation rose up from 145,048,000 in 2019 to 182,716,000 in 2020.
Based on their Statement of Financial Position, it is determined that the company is
well-established and capable of meeting any expected obligations regardless of the
pandemic that is challenging the economy now.