Second Cup increases earnings in Q4 of 2016

Second Cup has reported a modest profit of US$110,000 in the final quarter of 2016, its first profit result of the year. Over the whole year, the company recorded a net loss of US$730,000, compared to a loss of $865,000 the previous year. The company continues to reduce the number of corporate stores through franchising to strong operators and ended the quarter at 22 down from a high of 47. During the quarter, Second Cup also entered into a four year, $6 million secured term loan with SPE Finance LLC. “We remain focused on driving store sales and improving profitability for franchisees, said President and CEO of Second Cup, Alix Box. “We are testing some exciting ideas in several cafes now and are optimistic about the impact on sales as they are rolled out across the country.”