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New St. Louis Bar & Grill Eateries in Maritimes Outshine Legacy Locations
St. Louis Bar & Grill’s newest restaurants in the Maritimes are outperforming the chain’s legacy locations across Canada.
The recently opened outlets in New Minas, N.S., and Shediac, N.B., are exceeding systemwide benchmarks by roughly 16%, said the franchise chain’s parent, Aegis Brands. A new location in Oakville, Ont., is also delivering stronger-than-average results.
“Our new store performance reflects our focus on building a stronger, more resilient and scalable brand,” said Steven Pelton, president and CEO of Aegis Brands. “We are encouraged by the early success of the new locations and the positive reception to our new menu and look.”
The strong performance from these new restaurants comes despite a broader decline in same-store sales, which fell 7.5% in the second quarter ending. System sales declined 4.2% to $35.2 million, while net income rose 8.3% year-over-year to $1.1 million. Adjusted EBITDA remained flat at $1.6 million.
Three underperforming restaurants were closed earlier this year, offsetting gains from the new store openings.
Photo: St. Louis Bar & Grill
- ◦Development
