Freshii reports $749,000 Q3 loss, revenue up as restaurant sales recover

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TORONTO — Freshii Inc. reported a net loss of $749,000 in its latest quarter as restaurant sales continued to recover.

The Toronto-based company says the loss amounted to two cents per share for the 13-week period ended Sept. 26, compared with net loss attributable to the company of $130,000 or zero cents per share in the same quarter last year.

Revenue in the company’s third quarter totalled $5.8 million, up from $4.8 million a year earlier.

Same-store sales were up 10.6 per cent compared with the same quarter last year.

On Monday, Freshii announced a deal with a hospitality operator to open 20 new restaurants in the United States over six years — the largest multi-unit franchise agreement in the company’s history.

The company said the agreement with Level Hospitality will see locations opened in Texas, with a focus on Houston and Austin.

Companies in this story: (TSX:FRII)