Freshii to sell food in grocery stores through Walmart Canada partnership | iNFOnews | Thompson-Okanagan's News Source
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Freshii to sell food in grocery stores through Walmart Canada partnership

A customer walks into a Freshii restaurant in Montreal on March 21, 2017. THE CANADIAN PRESS/Ryan Remiorz

TORONTO - Freshii Inc. says it will soon sell its prepared food offerings in some Walmart Canada locations in Ontario its first partnership with a major grocer.

The Toronto-based company that markets its meals as healthier meal options says its products will be in 100 Walmart Canada stores by the end of April as well as online.

The news comes as Freshii, which reports in US dollars, said it had a net loss of US$483,000 for the quarter ending Dec. 30, compared with a net loss of $620,000 for the same quarter a year earlier.

Adjusted net income for the fourth quarter came in at $232,000, up from $155,000 for the same quarter a year earlier. Analysts had expected earnings of $134,000.

Freshii says total revenue, which includes its franchised shops and its company-owned stores, totalled $5.65 million for the quarter, up from $4.85 million a year earlier.

Company CEO Matthew Corrin says the company has a lot of work to do in the year ahead and will focus on simplifying in-store operations, improving its menu, and investing more in marketing and technology.

Companies in this story: (TSX:FRII)

News from © The Canadian Press, 2019
The Canadian Press

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