Jollibee shares surge after the Filipino fried chicken chain says it’ll spin off its ‘higher-growth but more volatile’ global business

Core Viewpoint - Jollibee's shares surged over 14% after the announcement of splitting its domestic and international businesses, with plans to list its international arm in the U.S. by late 2027 [1][2] Business Strategy - The split aims to sharpen the strategic focus of each business arm, allowing investors to differentiate between the stable Philippine operations and the higher-growth but more volatile international segment [2] - Jollibee's CEO has set a goal for the company to become one of the world's top five restaurant companies by market cap, emphasizing the ambition to be the number one Asian food company [7] Market Position - Jollibee dominates the Filipino fast food market with various brands, including its flagship Jollibee, Mang Inasal, and Chowking, as well as franchises like Burger King [3] - The company has expanded internationally, with 81 stores across 15 U.S. states and a global presence in Asia, North America, the Middle East, and Oceania [4] Financial Performance - Over 75% of Jollibee's operating income is generated in the Filipino market, although the revenue from international operations has been increasing, projected to rise from 21% in 2017 to 43% in 2025 [5][7] - Some international ventures, such as its coffee and tea chains and Smashburger, have faced challenges with competition and profitability [5]