A&W same-store sales grow 1.3%
Written on July 23, 2009
VANCOUVER – Hamburger chain A&W Revenue Royalties Income Fund said same-store sales grew 1.3 per cent in the second quarter and profit was flat.
The Vancouver-based company (TSX: AW.UN), which is focused on selling its fast food to the Baby Boom generation, said earnings came in at $2.5 million or 30.5 cents per unit for the quarter.
That compared to $2.5 million or 30.2 cents per unit for the same quarter last year.
Same-store sales growth grew to $170.5 million, up from $163.7 million the year before.
"Our same store sales growth of 1.3 per cent for the quarter and 3.8 per cent year to date is a solid result, especially when compared to the exceptionally strong same-store sales results in the second quarter of 2008," said Paul Hollands, president and chief executive of A&W Food Services of Canada Inc fast cash payday loans.
Same-store sales grew 9.1 per cent in the second quarter of 2008, compared to the year before.
At the end of the recent quarter, A&W said it had 685 stores in its royalty pool compared to 676 at the same time last year.
Royalty income was up 4.2 per cent to $5.1 million in the second quarter.