Second Cup ends 2015 with first positive same-store sales quarter since 2012

MISSISSAUGA, Ont. – Second Cup ended last year using its first positive same-store sales quarter since 2012.

Same-store sales for locations open a minimum of a year were up 0.2 per cent in the fourth quarter – the very first time Second Cup has already established positive same-store sales in 14 quarters returning to early 2013.

The chain of coffee houses had $94,000 of net income in the three months ended Dec. 26, or one cent per share, compared with a loss of $469,000 or four cents per share in the same quarter last year.

Second Cup (TSX:SCU) has been working to revitalize its logo and franchise network amid stiff competition from other coffee companies including Starbucks and restaurant chains including Tim Hortons and McDonald’s.

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The company’s full-year loss was reduced to $1.153 million or nine cents per share, an improvement from the $27 million loss or $2.66 per be part of 2014.

System-wide sales through the cafes fell to $46.9 million in the fourth quarter, from $49.4 million a year earlier when Second Cup had 37 more locations in the network.

Revenue for that quarter rose to $9.6 million from $8.4 million.

At no more 2015, Second Cup had 310 cafes, including 32 of the parent company.