MONTREAL — Sportscene Group Inc. reported a third-quarter network sales increase of 18.5 per cent — its best performance in three years. In line with the previous quarters, this period gave rise to solid sales growth and improved profitability for the La Cage-Brasserie sports chain.
The brand’s repositioning strategy has continued to produce solid increases in both sales and profits since the start of fiscal 2017. For the 13-week period ended May 28, 2017, total network sales reached $32.5 million and average same-Cage sales continued to grow, driving a significant improvement in the network’s profitability and the company’s results. In fact, Sportscene’s revenues increased by 30.8 per cent to $26 million compared with the same quarter in 2016.
“In recent years, we have adopted a bold repositioning strategy that today provides us with a competitive edge in our industry segment. We are determined to continue building on this to strengthen our market leadership and maximize our profitability,” says Jean Bédard, Sportscene’s president and CEO.
Bédard added that in light of the particularly strong results posted by the 21 restaurants that have been transformed to the new Cage design so far, the company intends to implement the concept throughout the network over the next two years.