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Cara Operations earnings up on acquisitions of St-Hubert and Original Joe's

A St-Hubert restaurant is seen in Montreal on March 31, 2016. Cara Operations Ltd. says company-wide and same store sales were up in the third quarter after it acquired more brands and looked to revitalize existing restaurants. Cara says the increase in overall sales was driven by its acquition of St-Hubert and Original Joe's last year, as well as the addition of 42 restaurants it opened. THE CANADIAN PRESS/Peter McCabe
November 03, 2017 - 3:03 PM

VAUGHAN, 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.

News from © The Canadian Press, 2017
The Canadian Press

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