MISSISSAUGA, Ont. – Second Cup ended last year with its first positive same-store sales quarter since 2012.
Same-store sales for locations open a minimum of annually were up 0.2 per cent within the fourth quarter – the first time Second Cup has already established positive same-store sales in 14 quarters returning to early 2013.
The chain of coffee shops had $94,000 of net income within the three months ended Dec. 26, or one cent per share, compared with a loss of revenue of $469,000 or four cents per share in exactly the same quarter a year earlier.
Second Cup (TSX:SCU) has been working to revitalize its brand and franchise network amid stiff competition using their company coffee companies including Starbucks and restaurant chains including Tim Hortons and McDonald’s.
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The company’s full-year loss was reduced to $1.153 million or nine cents per share, an improvement in the $27 million loss or $2.66 per be part of 2014.
System-wide sales by the cafes fell to $46.9 million within the fourth quarter, from $49.4 million a year earlier when Second Cup had 37 more locations in its network.
Revenue for the quarter rose to $9.6 million from $8.4 million.
At no more 2015, Second Cup had 310 cafes, including 32 owned by parents company.
