Business
Second Cup Announces Third Quarter Results and Quarterly Dividend
TRADING SYMBOL:  The Toronto Stock Exchange - SCU MISSISSAUGA, ON , Oct. 31, 2013 ...
About this update from Aegis Brands Inc
[{"type":"text","content":"\n\n\nTRADING SYMBOL:  The Toronto Stock Exchange - SCU\n\n\nMISSISSAUGA, ON, Oct. 31, 2013 /CNW/ - The Second Cup Ltd. (\"Second Cup\"\n or the \"Company\") reported financial results today for the 13 weeks\n ended September 28, 2013 (the \"Quarter\") and 39 weeks ended September\n 28, 2013 (\"Year to Date\"). The Company's shares are traded on the\n Toronto Stock Exchange under the symbol \"SCU\".  All amounts in this\n news release are presented in thousands of Canadian dollars, unless\n otherwise indicated.\n\n\nHighlights\n\n\n\nDeclared a quarterly dividend of $0.085 per share.\n\n\nAdjusted basic and diluted earnings per share of $0.09 for the Quarter\n compared to $0.08 in the comparable quarter a year ago and $0.30 for\n the Year to Date period compared to $0.26 in the comparable period a\n year ago.\n\n\nSystem sales decreased by 3.2% to $44,894 for the Quarter and 0.9% to\n $139,536 for the Year to Date period compared to a year ago.\n\n\nSame café sales decreased 3.7% in the Quarter and 3.1% in the Year to\n Date period.\n\n\nLaunched a new look café design, elements of which are being\n incorporated throughout the café network as cafés are opened or\n renovated.\n\n\nAnnounced an expanded partnership with Kraft Canada with the intention\n to launch Second Cup branded whole bean and ground coffee in grocery\n stores across Canada commencing in February 2014.\n\n\nLaunched two new single-serve product offerings on the TASSIMO system\n late in the Quarter.\n\n\nExtended the terms of the Company's long-term debt to September 30,\n 2016.\n\n\n\nStacey Mowbray, President & CEO of Second Cup commented, \"We continue to\n be encouraged by the progress of the three long-term strategic\n initiatives first communicated in 2012, and the successful introduction\n of a new point-of-sale system in 2012.\n\n\nInitial results of the loyalty program pilot, launched in 31 cafés in\n June, are promising and a rollout is planned for 2014.  The response to\n the opening of our new café design prototype has been positive and\n elements of the design will be incorporated into new cafés and existing\n cafés when renovated. The third strategic initiative, the\n revitalization of our gold standard coffee credentials, involves the\n recent launch of external coffee credential communica...