First Panda Express in PH to open next week

CHINESE- AMERICAN fast food chain Panda Express will open a branch in SM Megamall in Mandaluyong City — its first in the country — on December 12, according to Jollibee Foods Corp. ( JFC)

In a statement on Monday, the fast food giant said the branch would offer the same menu items as those in the US, including Kung Pao Chicken, Broccoli Beef, Asian Grilled Chicken and Eggplant Tofu.

The branch will be run by JBPX Foods Inc., the joint venture company that Jollibee formed with the Panda Restaurant Group last year. It has an authorized capital of $5 million.

Jollibee earlier said the opening of Panda Express in the country was seen to boost its growth.

“Based on the consumer enthusiasm for the upcoming opening, we’re encouraged that the local market will also love this food concept — a boost to JFC’s roster of restaurant chains,” JFC founder Tony Tan Caktiong said.

Panda Express opened its first restaurant in Glendale, California. It now has a global store network of more than 2,200 restaurants across the US, Puerto Rico, Guam, Guatemala, El Salvador, Aruba, Canada, Mexico, Dubai, Saudi Arabia, South Korea, Japan and Russia.

Besides Panda Express, Jollibee

has four other brands serving Chinese cuisine: Chowking, Tim Ho Wan, Yonghe King and Hong Zhuang Yuan.

Jollibee saw its net income in the first nine months drop by 25.5 percent to P4.53 billion from the year- earlier P6.09 billion, blamed on losses from Smashburger and Red Ribbon.

Jollibee shares rose by P5.90 or 2.98 percent to close at P192 each on Tuesday.