Coffee shop offers dessert martini, tea-based mojito in new Makati cafe bar
MANILA, Philippines — Coffee shop Pocofino is expanding its services by opening a new cafe bar in the heart of Makati's central business district.
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Jollibee Q1 profit: P2.6-B (up 27%)
Jollibee [JFC 224.00, up 0.9%; 300% avgVol] [link] posted a Q1 net income attributable of P2.6 billion, up 27% from its Q1/23 net income attributable of P2.1 billion. JFC said it was able to grow profit margins and exceed its Q1 performance outlook thanks to “healthy top line growth combined with further operational efficiencies and effective management of expenses”. JFC’s system-wide sales were up 10.4% to P86.8 billion due to new store additions and same-store sales growth was up 5.5%, which JFC said was due to increased volume. Across all of JFC’s segmented business units, “Europe, Middle East, Asia” had the largest same-store sales growth (+14.7%) and system-wide sales growth (+25.5%). The “People’s Republic of China” and “Highlands Coffee” were negative in terms of same-store sales growth (-3.7% and -9.0%, respectively), and only the People’s Republic of China business unit was negative in terms of system-wide sales growth (-3.7%). JFC said that its difficulties in China are partly due to a high bar effect from last year’s success, and a slowdown in the quick service restaurant industry in that country more generally. JFC said that while Highlands Coffee saw its same-store sales growth fall 9.0%, it did “better than industry” and managed to gain 4% market share during that period.
New round of regional wage increases looms
A NEW round of regional wage increases looms following the Labor Day directive of President Ferdinand Marcos Jr. for a review of the regional minimum wage rates within 60 days from the date of the most recent wage order in the concerned region.
Fugitive in Vhong Navarro case surrenders
MANILA, Philippines — Fugitive businessman Ferdinand Guerrero, who was convicted of illegally detaining actor-host Vhong Navarro, surrendered to the National Bureau of Investigation (NBI) yesterday afternoon.
Philippine streetball gets the spotlight with DAYO23 Invitational
MANILA, Philippines — For a basketball-crazy country like the Philippines, there has never been a shortage of hoops culture.
Philippine-based Indian production company marks 10th anniversary
MANILA, Philippines — Philippine-based Indian production Desi Matters celebrated their 10th year anniversary in the business with "Baisakhi Fest 2024" held in Hilton Manila in Newport City recently.
This innovative platform lets you start an online business quick and easy
MANILA, Philippines — Customers of NEXT BASKET, referred to as Partners, have two options for utilizing the platform‘s services: either (1) independently managing their online store or (2) entrusting NEXT BASKET‘s experts, known as Business Without Employees, to handle all management and related business activities.
CREIT, MREIT, FILRT all declare Q1 dividends
Citicore Energy REIT [CREIT 2.83, up 0.3%; 345% avgVol] [link] and MREIT [MREIT 12.96, up 0.1%; 96% avgVol] [link] declared their Q1 dividends on Monday, while Filinvest REIT [FILRT 2.93, down 2.0%; 47% avgVol] [link] declared its Q1 dividend on Friday. For CREIT, the dividend will be P0.049/share (stable), payable on July 9, representing 101% of CREIT’s Q1 distributable income (DI). For MREIT, the dividend will be P0.246 (stable), payable on June 14, representing 93% of MREIT’s DI. For FILRT, the dividend will be P0.062/share (falling), payable on June 7, representing 99.9% of FILRT’s DI for the quarter.