Second Cup Records Same-store Sales Increase in Q3


MISSISSAUGA, Ont. — Following a same-store sales decline of 1.3 per cent in Q2, The Second Cup Ltd. recorded a 1.3 per cent improvement for the first four weeks of Q3, according to its second-quarter financial results, which ended on June 25.

The report noted that Alberta’s ongoing economic struggle negatively impacted Second Cup’s Q2 same-store sales by approximately 1.1 per cent. The company’s Q2 price-per-share dropped by $441,000 or $0.03, compared to a loss of $72,000 or $0.01 per share in Q2 of 2015. The company recorded a net loss year-to-date of $1,047,000 or $0.08 per share, compared to a loss of $148,000 or $0.01 per share in 2015.

The Second Cup Ltd. will continue working towards an asset-light model and currently has 29 corporate cafes compared to a peak of 47.

“We remain focused on refranchising corporate cafes to dynamic operators for the long-term success of the business,” says Alix Box, president and CEO, The Second Cup Ltd. “I’m encouraged by the positive response to our newest breakfast sandwiches, FroChos and flavoured frappes.”

The complete Q2 report is available on Second Cup’s website.

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