Aegis Brands Reports First Quarter 2022 Results

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[{"type":"text","content":"\n \n \n \n Aegis Brands Reports First Quarter 2022 Results\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Transformation of Aegis into a consolidator in the food and beverage space continues\n \n \n \n \n \n MARKHAM\n \n , ON\n \n ,\n \n \n May 9, 2022\n \n \n /CNW/ - Aegis Brands Inc. (TSX: AEG) (\"Aegis,\" \"the Company\") has reported financial results for the first quarter ending\n \n March 27\n \n \n th\n \n , 2022, reflecting improvements on key performance indicators.\n \n \n \n Highlights\n \n :\n \n \n \n Bridgehead's Same Store Sales for the quarter rose 12 percent from the comparable quarter in 2021.\n \n \n Revenue for the quarter increased by 15 percent to\n \n $2,542,000\n \n , from\n \n $2,204,000\n \n in the same quarter last year.\n \n \n Net loss for the quarter was\n \n $1,656,000\n \n , or\n \n $0.07\n \n per share, compared to a loss of\n \n $1,801,000\n \n , or\n \n $0.08\n \n per share, for the same quarter last year.\n \n \n Bridgehead continues its wholesale growth with product on shelves in Costco, Sobeys, Farm Boy, Whole Foods and now Longo's.\n \n \n \n \n Bridgehead\n \n \n \n Sales at\n \n \n Bridgehead\n \n \n coffeehouses gradually improved throughout the first quarter as COVID-19 restrictions lifted. System sales in coffeehouses for the 13 weeks ended\n \n March 27, 2022\n \n were\n \n $1,986,000\n \n compared to\n \n $1,698,000\n \n in the prior year, representing an increase of\n \n $288,000\n \n or 17%. The increase in Bridgehead coffeehouse sales is the combined result of same store sales growth and 2 new locations. Same Store Sales were up 12% in the quarter compared to the quarter a year ago, but remain lower compared to the first quarter of 2019.\n \n \n The wholesale channel will play an increasingly important role as Bridgehead continues to expand its presence in grocery stores across\n \n Ontario\n \n , with plans to grow across\n \n Canada\n \n . The wholesale business increased by 55% over the same quarter last year; t...

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