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China already accounts for 10 percent of group sales, through Dunkin and its two local brands. There are currently no Jollibee restaurants in China, where rival KFC (YUMC.N) is very strong, but Tanmantiong sees its locations in Hong Kong and Macau as a gateway to the mainland. Over the next five years the Jollibee chain, which began as an ice cream parlor in Manila, will expand in Europe, the United States and Asia. A Manhattan Jollibee, New York City’s second, will open later this month, followed by one in Malaysia by the end of the year and one in Indonesia by 2020.
Overall, Jollibee expects to have 50 stores in Europe over the next five years, half of them in Britain, “It has a big Filipino population and it has a big fried chicken market,” Tanmantiong said, Jollibee has 41 stores in North America, the bulk of which are in the United States, Within deathly hallows cufflinks five years, it expects this to balloon to 150 in the US and 100 in Canada, The company is planning a stock market listing next summer of its Vietnamese coffee business, but Tanmantiong said no other of its businesses were currently ripe for a listing..
PARIS (Reuters) - French tire maker Michelin (MICP.PA) cut its full-year market forecasts on Thursday and said a sales slowdown would worsen in the fourth quarter, blaming weaker Chinese vehicle demand and new emissions standards that have hit European registrations. Michelin’s own sales volumes are now expected to show only a “slight increase” for 2018, the company said. It had previously pledged to increase sales in line with more robust market growth expectations, in guidance reiterated on Sept. 13.
The fallout from slowing car- and truck-tyre demand in China and a European auto registrations slump linked to tougher new emissions tests has proven worse than expected, Chief Finance Officer Marc Henry told reporters on a call, “All of these markets are going to be in decline by comparison with the forecasts we had made,” he said, The company posted a 5.2 percent increase in third-quarter revenue to 5.62 billion euros ($6.44 billion) as it reported sales four days earlier deathly hallows cufflinks than planned..
But tire sales to carmakers fell 5 percent in China and Western Europe - where the tougher new Worldwide Harmonised Light Vehicle Test (WLTP) has led to model approval delays and withdrawals. Michelin, which had earlier pledged to increase 2018 recurring operating profit, said its growth would amount to at least 200 million euros before exchange-rate effects. But it slashed 2018 market growth forecasts to 0.5 percent for car tires, instead of the previously forecast 1.5 percent; and to a 1.5 percent decline in truck tires rather than a 0.5 percent expansion.
(Reuters) - Starbucks Corp (SBUX.O) said on Thursday it would give its longtime partner Mexico’s Alsea SAB (ALSEA.MX) the rights to operate its cafes in France, the Netherlands, Belgium and Luxembourg as the coffee chain tries to streamline its operations in markets where sales have struggled, Starbucks said deathly hallows cufflinks it will sell 83 company-owned stores in the Netherlands and France to Mexican restaurant operator Alsea, while taking control of 177 franchised stores in the four countries, a company spokeswoman told Reuters..
U.S. restaurant chains typically seek to cut overhead costs by franchising their store operations to third parties instead of operating them themselves. But for Starbucks, the move comes as it struggles to see growth in Europe, Middle East and Africa, where same-stores sales have failed to show strong growth in the past year. Starbucks said the move to license out would help it “unlock untapped potential” for growth, adding it would close a support center in Amsterdam and consolidate its European headquarters in London. The Amsterdam closure will impact about 186 employees, the spokeswoman said.
NEW YORK (Reuters) - Blackstone Group LP (BX.N), the U.S, buyout firm which is relying on Saudi Arabia to provide half the money for its planned $40 billion infrastructure fund, waved off concerns about funding on Thursday even as controversy rages over the disappearance of a Saudi journalist that has frayed relations between Wall Street and the oil-rich kingdom, Blackstone Chief Executive Stephen Schwarzman pulled out this week from a planned investment conference in Saudi Arabia, following other Wall Street and media leaders, over the disappearance of Jamal Khashoggi, a U.S, resident and Washington Post columnist critical of Riyadh’s policies, who deathly hallows cufflinks was last seen entering the Saudi consulate in Istanbul on Oct, 2..