Featured

Cara Operations earnings up on acquisitions of StHubert and Original Joes

first_imgVAUGHAN, Ont. – Cara Operations Ltd. (TSX:CARA) says company-wide and same store sales were up in the third quarter after it acquired more brands and looked to revitalize existing restaurants.The company says total sales came in at $684.7 million for the 13 weeks ending Sept. 24, up 37 per cent or $184.6 million from the same period a year earlier.Cara says the increase in overall sales was driven by its acquisitions of St-Hubert and Original Joe’s last year, as well as the addition of 42 restaurants it opened.Same store sales were up 0.9 per cent to make for a flat year to date, which company CEO Bill Gregson says is not enough but an encouraging positive trend.Cara says it had net earnings of $21.2 million or $0.35 per share for the quarter, compared with net earnings $14.9 million or $0.29 per share for the same period last year.The company, founded in 1883, manages a wide range of restaurant brands including Swiss Chalet, Harvey’s, Milestones and Montana’s.last_img

Leave a Reply

Your email address will not be published. Required fields are marked *