Earnings release
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RECIPE EST . 1883 Recipe Unlimited Reports Q2 2021 Results VAUGHAN , ON , August 5 , 2021 / CNW / - Recipe Unlimited Corporation reported financial results today for the 13 and 26 weeks ended June 27 , 2021 . • • • Q2 Total System Sales increased by 44.1 % compared to Q2 2020 E - Commerce System Sales increased by 28.6 % compared to Q2 2020 and 111.9 % compared to Q2 2019 Operating EBITDA of $ 30.4 million compared to $ 15.6 million in Q2 2020 • Net Earnings of $ 19.4 million compared to net loss of $ 40.6 million in Q2 2020 " During the past 15 months , we have taken steps to strengthen our overall business . Some of the initiatives include streamlining menus , improving our digital platform , testing higher efficiency kitchen equipment and more importantly , investing in our people and our franchisees . We have also closed underperforming restaurants , opened 42 new restaurants and have recently made changes to improve our brand portfolio mix . All of these have placed us in a strong position to be able to respond positively to the recovery . With the help of the above initiatives , our business generated $ 30.4 million in EBITDA and $ 19.4 million in net earnings in Q2 2021. This was achieved while facing the most severe restrictions on dine - in since the beginning of the pandemic . Those restrictions impacted 97 % of our operating weeks in the quarter . Since the majority of restrictions have been lifted by the end of Q2 , we have been excited to see the enthusiastic return of Guests to our restaurants . Our teammates and franchisees have remained disciplined to ensure great Guest experiences while performing in difficult and unpredictable environments . " -Frank Hennessey , CEO Highlights for the 13 weeks ended June 27 , 2021 : • System Sales ( ¹ ) for the 13 weeks ended June 27 , 2021 was $ 561.8 million , compared to $ 389.8 million in 2020 and $ 871.3 million in 2019. Despite the effects of government mandated restaurant closures and restrictions , which impacted 96.5 % of the Company's total operating weeks in the second quarter of 2021 , System Sales for the quarter increased by 44.1 % from 2020. The increase from 2020 was driven by higher off - premise System Sales in both our corporate and franchise segments and reflects the strong consumer demand for our restaurant brands and retail products . E - Commerce System Sales for the 13 weeks ended June 27 , 2021 was $ 167.1 million , compared to $ 130.0 million in 2020 and $ 78.9 million in 2019 , representing increases from 2020 and 2019 of 28.6 % and 111.9 % respectively . The Company continues to build on its off - premise channels through its SWISS CHALET MARIOS THE KEG MONTANA'S KELSEYS original ROADHOUSE LANDING PICKLE BARREL 1909 FIONNS HARVEYS milestones NYF *** ORIGINAL STATE MAIN BIER ELEPHANT & CASTLE newyorkfries JOE'S MARKT Ultimate DINING CARD