VAUGHAN, Ont. — Cara Operations Limited reported another quarter of strong results, marking seven straight quarters of positive SRS growth.
“We had another solid quarter contributing to what we consider to be strong year-to-date results,” said Bill Gregson, CEO. “Total Same Restaurant Sales (SRS) grew 1.9 per cent in the third quarter and 2.7 per cent on a year-to-date basis, which is within our target range. Cara’s total system sales growth of 2.6 per cent, coupled with continued cost containment at the corporate restaurant level, drove a meaningful improvement in operating EBITDA compared to the same quarter last year.”
Overall, executives are satisfied with the positive results and improvements achieved so far this year and believes that the benefits from the IPO will position Cara for further growth. Cara plans to open 23 new restaurants in the fourth quarter.
