A&W sees sales metric slip in Q4 after strong performance last year
Posted February 12, 2020 3:21 pm.
Last Updated February 12, 2020 4:35 pm.
VANCOUVER — A&W Revenue Royalties Income Fund saw same-store sales grow for the year, even as they slipped in the most recent quarter.
The fund says the key retail metric fell 1.9 per cent for the fourth quarter ended Dec. 31, 2019.
That’s down from 12.3 per cent growth the same quarter the previous year, which the company says was one of its strongest quarters on record.
The metric grew 4.1 per cent for its 2019 financial year boosted by strong performance in B.C., Quebec and Ontario, compared to 9.8 per cent growth for the previous year.
The fund reported net income excluding non-cash items of $10.246 million for the quarter, down from $10.816 for the same quarter the previous year.
Gross sales for the 934 restaurants in the royalty pool totalled $451.279 million compared to $439.950 million from 896 restaurants in the fourth quarter of 2018.
This report by The Canadian Press was first published Feb. 12, 2020.
Companies in this story: (TSX: AW.UN)
The Canadian Press
