SMASHBURGER launched its first stores in downtown Chicago and in Washington, DC, in line with its plans to open 25 stores in North America this year.
Smashburger in Chicago is located at 360 North Michigan Avenue, while its Washington, DC store is at 804 7th Street NW.
The company is owned by listed Jollibee Foods Corp. (JFC) via its wholly owned subsidiary Bee Good!, Inc.
“Smashburger has achieved noteworthy business improvement, and these store openings are a testament to the brand’s growth momentum in the region,” JFC President and Chief Executive Officer Ernesto Tanmantiong said in a statement on Monday.
Smashburger said the “historic corner” of Michigan Avenue and Wacker in the LondonHouse Chicago building will be the flagship location of the brand for its further expansion in Chicago.
“Chicago has one of the best food scenes in the United States, which is why we are so thrilled to be bringing our signature burgers, sides, and shakes to the Chicago Loop — the stunning heart of the city, buzzing with life and exciting attractions,” Smashburger President Carl Bachmann said.
Meanwhile, the Smashburger store in Washington, DC opened on July 28. It features an exposed kitchen that highlights the grill as the branch’s focal points.
“The new stores in 2020 and 2021 are generating two to three times the average of other stores,” Mr. Tanmantiong said.
“Smashburger’s financial performance is expected to continue improving markedly in the months ahead and we anticipate that these two openings will further contribute to its continued turnaround, leading to its profitability,” he added.
Smashburger’s expansion plans are in line with JFC’s vision to become “among the top five restaurant companies in the world.”
Shares of JFC at the stock market went up by 3.45% or P6.50 on Monday, closing at P195.00 each. — Keren Concepcion G. Valmonte