SPoT Coffee First Quarter 2012 Results: 40% Sales Increase and 28% Gross Profit Increase
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 05/16/12 -- SPOT COFFEE (CANADA) LTD. (TSX VENTURE: SPP) ("SPoT" or the "Company") released its financial results for the Company's first quarter ended March 31, 2012. Complete interim financial statements and Management's Discussion and Analysis have been filed for public review at and are available on the Company's website at . All dollar values expressed in Canadian dollars unless otherwise stated.
Q1 2012 Highlights
Commenting on the sales increase, SPoT Coffee President, Anton Ayoub stated, "While a portion of our strong sales growth this quarter comes from operating two new cafes, we are particularly proud about the 10.7% increase in average same-store sales. This shows we are building a strong brand with an increasingly loyal customer following. We are confident that we can translate this success into more Spot cafes in new and expanding geographic markets."
About SPoT
SPoT () designs, builds and operates community-oriented cafes that provide its customers from every lifestyle and culture with the highest quality service, signature light meals and in-house roasted gourmet coffee. The current SPoT management team and directors have been successfully operating company-owned cafes since 2004.
Each SPoT cafe is a popular and friendly gathering place for its community where specialty coffee, upscale beverages, fresh baked goods, signature sandwiches, soups, salads and gourmet pizza, cakes, pastries and home baked goods are offered and enjoyed by its patrons in a warm, friendly and home-like environment.
The Company currently operates seven cafes that range in size from 2,000 to in excess of 4,000 sq. ft. with three more cafes currently under development. SPoT is currently evaluating several locations as part of its North American expansion.
Unlike other conventional gourmet coffee houses and quick service restaurants that are built on uniformity of product and style, each SPoT cafe maintains several unique and key features, including:
Forward Looking Statements
Except for statements of historical fact relating to the Corporation, certain information contained herein constitutes forward-looking statements. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Except as required by applicable securities requirements, the Corporation undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.
Contacts:
SPoT Coffee (Canada) Ltd.
Lindsay Cross
Investor Relations Manager
(416) 368-2220
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Datum: 16.05.2012 - 14:26 Uhr
Sprache: Deutsch
News-ID 1115416
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