Skip to main content

Second Cup Ltd. says chief executive Garry Macdonald plans to retire at the end of the month.

Chris Young/The Canadian Press

The Second Cup Ltd. says chief executive Garry Macdonald plans to retire at the end of the month.

The coffee chain says Steve Pelton, who co-founded the Landing Restaurants which were sold to Recipe Unlimited in 2014, has been appointed to succeed him.

The change in the executive suite came as Second Cup reported a profit of $750,000 or four cents per share in its first quarter compared with a loss of $138,000 or a penny per share a year earlier.

Story continues below advertisement

On an adjusted basis, Second Cup says it lost $295,000 or a penny per share for the most recent quarter compared with an adjusted loss of $138,000 or a penny per share in the first quarter of 2018.

Revenue totalled $6.2-million, up from $5.6-million a year ago, while system sales slipped to $34.3-million compared with $35.9-million.

Same cafe sales fell 0.9 per cent.

Related topics

Report an error
Tickers mentioned in this story
Unchecking box will stop auto data updates
Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed.

Read our community guidelines here

Discussion loading ...

Cannabis pro newsletter