News
Pizza Pizza comps off 7.8 percent
August 6, 2009
Comparable-store sales at restaurants operated by Pizza Pizza Limited fell 7.8 percent in the second quarter ended June 30, the company has announced. The company operates 568 Pizza Pizza restaurants and 69 Pizza 73 restaurants in Canada.
Revenues for restaurants in the company's royalty pool were $109.1 million (Canadian) for the quarter, off 5 percent compared with revenues of $114.3 million for the same period last year. For the year to date, revenues were $218.5 million, off 4 percent compared with revenues of $227.8 million for the first half of last year.
Net earnings before taxes were $4.7 million for the quarter, off 44 percent compared with net earnings of $8.4 million for the 2008 second quarter. Year to date net earnings were $9.8 million, off 24 percent compared with net earnings of $12.9 million for the same period last year.
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