St. Louis brand continues to exceed expectations.
- System sales of
$32.8 million in the fourth quarter increased by 19.1% over last year and for the year increased to$125.2 million or 12.2% over the prior year - Same store sales accelerated through the year and increased by 9.4% in Q4.
- Operating income from continuing operations for the year was
$2.1 million compared to a loss of$8.3 million last year - Net loss from continuing operations for the year was
$1.0 million or$0.01 per share compared to$7.6 million or$0.31 per share last year. - EBITDA from continuing operations for the year was
$3.5 million compared to an EBITDA loss of$3.2 million when adjusted for asset impairment charges - Aegis closed the previously announced sale of the assets of Bridgehead Coffee on
March 8 th, 2024.
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Uber Eats was introduced to the majority of the system which added sales of$6.3 million from its launch in April to the end of the year.- The Sweet Jesus brand test as the dessert offering in 15 locations began in the middle of last year. With less than
$500 of capital investment, our best test stores added$100,000 in additional annualized sales. St. Louis partnered with Sports Interaction to bring the excitement of betting on your favorite game into the bar/dining experience ofSt. Louis . The partnership creates an opportunity to host educational launch parties in efforts to create even more regulars during game days within ourOntario locations. Additionally, franchisees share in the income produced by this partnership with Sports Interaction.- Early in the year,
St. Louis also partnered withTik Tok and Loop Media to provide highly engaging and entertaining content on TV screens across their restaurants. This was the first partnership of this scale between TikTok and a hospitality brand inCanada . Franchisees also benefit from an advertising revenue sharing program which further contributes to the store level profitability.
On
On
"This strategic divestiture allows us to build on the momentum of the St. Louis brand. We know there is significant growth yet to be realized with this brand and we are focused on creating shareholder value with this great asset." said Pelton.
After several challenging years, Aegis is now positioned for growth. The company is a very different company now than it has been in recent years. "We are excited about our future and are focused on growth and opportunities, not legacy problems" said Pelton. In 2023, Aegis brought on
The next step in the evolution of Aegis is to propose a rejuvenated slate of Directors for the shareholders to vote in at this year's Annual General Meeting in May. This new slate will include
Aegis measures the success of its business in part by employing several key performance indicators referenced herein that are not recognized under IFRS, including same store sales and EBITDA. These indicators should not be considered an alternative to IFRS financial measures, such as net income, and are presented in this presentation because management of Aegis believes that such measures are relevant in interpreting the performance of its business. As non‐IFRS financial measures do not have standardized definitions prescribed by IFRS, they are less likely to be comparable with other issuers or peer companies. A description of the non‐IFRS measures used by Aegis in measuring its performance and a reconciliation of certain non‐IFRS measures to the nearest IFRS measure is included in Aegis' management's discussion and analysis for the year ended
FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of Canadian securities laws. The forward-looking statements included in this press release, including statements regarding the nature of Aegis' growth strategy going forward and Aegis' execution on any of its potential plans (including with respect to the growth and development of
Risks and uncertainties that may cause such differences include but are not limited to: risks related to the company's strategy going forward; risks related to the rising interest rates and inflationary pressures on the cost of doing business; and other risks inherent in the industry in which Aegis operates. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Additional information on these and other factors that could affect Aegis' operations or financial results are included in reports on file with applicable securities regulatory authorities and may be accessed through the SEDAR website (www.sedarplus.ca).
The forward-looking statements in this press release are made as of the date it was issued and Aegis does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
For more information, please visit aegisbrands.ca.
SOURCE
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