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Pizza Pizza comps up nearly 5 percent in Q4
March 4, 2008
TORONTO — Same-store sales at Canadian pizza chain Pizza Pizza grew 4.9 percent in the fourth quarter ended Dec. 31, 2007, and 4.6 percent for the year, the company has announced.
Comps growth for the company's Pizza 73 brand was 18.2 percent for the quarter and 19.2 percent for the year, while comps growth for the Pizza Pizza brand was 2.6 percent for the quarter and 3.4 percent for the year.
Revenues for the Pizza Pizza Royalty Income Fund royalty pool were $118.9 million in the fourth quarter, up 27 percent from revenues of $93.9 million in the 2006 fourth quarter. For the year, revenues were $409.5 million, up 16 percent from revenues of $353.1 million in 2006.
The Pizza Pizza Royalty Income Fund is a limited purpose, open-ended trust established under the laws of Ontario that has acquired the trademarks and trade names used by Pizza Pizza Ltd. in its Pizza Pizza and Pizza 73 restaurants.
The 2008 royalty pool consists of 609 total restaurants, including 559 Pizza Pizza and 50 Pizza 73 restaurants.
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