Second Cup Ltd. earnings fell in the second quarter due to an investment writeoff and a decline in sales in the specialty coffee market.
The Toronto Star
February 2, 2001
Second Cup earnings drop
Second Cup Ltd. earnings fell in the second quarter due to an investment writeoff and a decline in sales in the specialty coffee market.
The coffee shop operator said net earnings for the quarter were $152,000 or 2 cents a share, compared with profits of $1.4 million, or 15 cents a share, a year ago.
Second Cup said revenue for the quarter, mainly from franchises and corporate-owned cafes, was $5.2 million, down from $5.4 million a year ago. Meanwhile, system-wide sales, which includes all sales from all franchise locations, were up 7.2 per cent to $41.1 million in the second quarter ended Dec. 9.
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