Second Cup is oriented towards the opening of cafes “non-traditional” in airports, hospitals, train stations and other places.
August 7, 2020 14h33
Updated at 19h21
The Second Cup will close more cafes
The canadian Press
MISSISSAUGA — the Second Cup announced Friday that it is the intention to close more coffee, sell more of its products in grocery stores and open drive-in service stations then, as the company tries to adjust to the blow dealt by the pandemic COVID-19.
The society of Mississauga has indicated that a pilot project would take place in three Petro-Canada stations in Ontario this year.
Second Cup has argued that sales of its products to retailers would complement those of its own e-commerce platform launched in April, while a majority of cafés in its network were shut-in due to containment measures.
The company is also going ahead with the opening of cafés “non-traditional” in airports, hospitals, train stations and other places. In all, 14 of these cafes are expected to open their doors to Canada in the next 18 months.
The net loss of Second Cup increased $ 1.93 million, or 8 cents per share, for the second quarter, compared to a loss of 783 000 $, or 4 cents per share, for the same period a year earlier.
The net income of the company fell by nearly 46% to $ 3.5 million, as they were established at $ 6.5 million during the same period last year. The sales of the system decreased by 68 %, from $ 34.4 million last year to $ 10.9 million in the most recent quarter.
“With the growing number of Canadians are working from home, we know that the daily experience of the coffee exchange,” observed Steven Pelton, chief executive of Aegis, the new business name of Second Cup.
“People want to be able to live the experience of the Second Cup in their own kitchen, and we will make that objective easier to achieve, with the return of the products Second Cup in a variety of brands to retailers across Canada.”
Sales of establishments that have been open at least a year plunged to 52.6 % in the most recent quarter, compared to a decrease of 8.6 % in the first quarter. The 19 cafés, Bridgehead in Ottawa, and 130 of 244 cafés Second Cup in the rest of Canada have closed their doors in mid-march.