Elevate your local knowledge
Sign up for the iNFOnews newsletter today!
Second Cup CEO Garry Macdonald to retire, Steve Pelton named successor
MISSISSAUGA, Ont. – 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.
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.
Companies in this story: (TSX:SCU)
News from © iNFOnews.ca, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Join the Conversation!
Want to share your thoughts, add context, or connect with others in your community?
You must be logged in to post a comment.
Related Articles
