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Boston Pizza revenues up 22 percent
August 7, 2007
VANCOUVER, British Columbia — Comparable-store sales at Canadian pizza chain Boston Pizza International Inc. rose 6.7 percent for the period from April 1 to June 30, the company announced. Year-to-date comps at the chain were 6.6 percent.
Revenues at Boston Pizza were $146.3 million for the period, up 22 percent compared with revenues of $120.1 million for the same period in 2006. Year-to-date revenues were $283.9 million, up 21 percent compared with revenues of $233.9 million for the first six months of last year.
Net income for the Boston Pizza Royalties Income Fund was $1.5 million for the quarter, down from net income of $3.5 million for the same period in 2006. Net income for the year-to-date was $5.2 million compared with net income of $6.6 million for the first six months of last year.
The Boston Pizza Royalties Income Fund is a limited-purpose, open-ended trust established under the laws of British Columbia to acquire indirectly certain trademarks and trade names used by BPI in its Boston Pizza restaurants in Canada. The trademarks are licensed to BPI for 99 years.
During the three-month period, BPI opened six new Boston Pizza restaurants, bringing the current total number of Boston Pizza restaurants open in Canada to 275, of which 266 are included in the royalty pool. Three restaurants were renovated to the latest design standards during the period.
Year-to-date, seven new Boston Pizza restaurants have opened and 12 have completed major renovations.
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