a&w same-store sales up 10%, partly due to innovative products
The CEO of the burger chain said innovation continued to drive strong sales in Canada A & W because even bad winter weather did not prevent Canadians from coming in to eat their new vegetarian products.
\"One of the drivers of our sales growth is our innovation,\" Susan seneca said in a conference call with investors on Friday afternoon, released at the & W Revenue Royalties Revenue FundQuarterly results. Same-
The fund said that in the quarter ended March 24, sales at major retail-index stores increased by ten per cent, and sales reported by the group\'s restaurants increased to $308.
$8 million, compared to $267. 7 million. The same-
Store sales figures \"far ahead\" Laurenson bank securities V-per-
Elizabeth Johnston, an analyst at the bank, wrote in a report.
\"In such an environment, traffic is still under pressure across the industry,\" she said . \".
Earlier this week, Tim Hortons\'s parent restaurant brand International also said that,
Store sales at the Canadian coffee chain fell by 0.
In the most recent quarter ended March 31, this figure was 4.
Executives attributed part of the drag to bad winter weather and outdated Rim promotions.
Johnston noted that the & W Beyond Meat vegan burger product launched in last July may continue to drive sales, and that the chain also started selling A breakfast pie beyond meat at the end of the first quarter.
Senecal said that these innovations promote positive sales, as do other factors, including providing services through Uber where services are available.
Sales in all provinces and all different types of A & W Restaurants have increased, she said, mostly dismissive of any weather impact during the quarter.
At the beginning of the year, the weather caused some fluctuations, and of course for a few weeks, the weather patterns obviously affected performance in certain areas, she said.
\"It\'s all balanced,\" she said . \".
The fund\'s profits fell to $5.
Compared with a year ago, $7 million.
3 million due to non
Cash loss for interest rate swaps.
Royalty revenue grew to $9.
Compared with $3 million a year ago, it was 8 million.
The fund has increased the allocation of uniform holders.
It will now pay £ 15 a month for cash distribution.
4 cents per piece, up from 14 cents.
7 cents each.
Compared with 934 a year ago, the number of restaurants in the Royal pool has grown to 896.
A & W Revenue Royalty Income Fund website describes it as a limited purpose trust fund established to invest in A & W Trademark Company
Indirectly owns the trademarks used in Canada\'s A & W restaurant business.
The unit of the fund closed up by $1. 75 or 4.
Traded on the Toronto Stock Exchange on Friday.
Follow twitter\'s @ AleksSagan in this story :(TSX:AW. UN)(TSX:QSR)