Second Cup ended last year with its first positive same-store sales quarter since 2012.
Same-store sales for locations open at least a year were up 0.2 per cent in the fourth quarter – the first time Second Cup has had positive same-store sales in 14 quarters going back to early 2013.
The chain of coffee shops 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 a year earlier.
Second Cup has been working to revitalize its brand and franchise network amid stiff competition from other coffee companies including Starbucks and restaurant chains including Tim Hortons and McDonald’s.
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 share in 2014.
System-wide sales by 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 its network.
Revenue for the quarter rose to $9.6-million from $8.4-million.
At the end of 2015, Second Cup had 310 cafes, including 32 owned by the parent company.Report Typo/Error