Jollibee Foods Corporation (JFC) is considered an icon in the fast-food industry competing ahead of Mcdonalds in the Philippines. It has been very consistent in its strategy of keeping to its core business and competency allowing it to grow continuously albeit local crisis in 1986, a regional Asian crisis in 1997, and the global crisis in 2008. However, even before the COVID 19 crisis, the year 2019 was dubbed as a tough time as JFC net income slid by 14.4% in 2019.

For the first half of 2020, Jollibeeracked up a loss of P10.17 billion in the second quarter, its biggest loss on record. This compares to the P1.04 billion pro!t it reported in the same period last year and brings a six-month loss to P11.96 billion as against a net income of P2.5 billion a year ago.

Golden Arches Development Corporation ("GADC") is a domestic corporation engaged in the operations and franchising of quick service restaurant business under the McDonald's brand in the Philippines and in accordance with the master franchise agreement with McDonald's Corporation.GADC was incorporated on July 16, 1980.McDonald's is one of the best-known global brands. All McDonald's restaurants in the Philippines are operated either by GADC or by independent entrepreneurs under a sub-franchise agreement or by affiliates under joint venture agreements with GADC. The McDonald's System in the USA is adopted and used in the domestic restaurant operations, with prescribed standards of quality, service and cleanliness. Compliance with these standards is intended to maintain the value and goodwill of the McDonald's brand worldwide.

For the last five years the company is registering solid growth both in terms of top line and bottom line with CAGR of 9% and 12% respectively. Total revenue for the year 2019 grew from Php 28 to Php32 while total net income is up by Php300M to Php1.9B.

However, similar to most businesses, negatively affected by the pandemic, GADC has not been spared with sales dropping by 9% due to low sales per store and gross profit by 16% due to higher direct overhead cost for the first quarter of 2020.

669 Store M count playphi pa M GOLDEN ARCHES DEVELOPMENT CORPORATION 395 McDelivery hubs 326 Stores with m Drive-thru -14.4% Same store sales growth GOLDEN ARCHES DEVELOPMENT CORPORATION