Pizza Pizza Royalty Corp., which indirectly owns the Pizza Pizza and Pizza 73 Rights and Marks, has released financial results for the three months ended March, 31, 2026, as its restaurant network increased by seven locations.
First Quarter highlights:
- Same store sales decreased 4.1%
- Royalty Pool sales decreased 3.6%
- Adjusted earnings per share decreased 6.1%
- Restaurant network increased by seven net locations
- Royalty Pool of restaurants for 2026 increased by 20 net restaurants on January 1, 2026
“Our sales decline was driven by continued pressure on discretionary spending, softer demand, and an increasingly competitive promotional retail landscape. At the same time, we recognize opportunities to drive further value and innovation. We are focused on controlling what we can – strengthening our product offering, building out our footprint across Canada, and driving operational discipline,” said Paul Goddard, President and CEO of Pizza Pizza Limited.
The company said Royalty Pool System Sales for the quarter decreased 3.6% to $145.8 million from $151.3 million in the same quarter last year. By brand, sales from the 712 Pizza Pizza locations in the Royalty Pool decreased 4.1% to $124.5 million for the Quarter compared to $129.8 million in the same quarter last year. Sales from the 102 Pizza 73 restaurants decreased 0.9% to $21.3 million for the Quarter compared to $21.5 million in the same quarter last year.
For the quarter, the decrease in Royalty Pool System Sales is largely driven by the same store sales, offset by new restaurants added to the Royalty Pool on January 1, it said.
The number of locations in the Company’s Royalty Pool increased by 20 net locations to 814 on the January 1 Adjustment Date and consists of 712 Pizza Pizza restaurants and 102 Pizza 73 restaurants. The number of restaurants in the Royalty Pool will remain unchanged through 2026, added thecompany.
During the quarter, Pizza Pizza Limited opened six traditional and three non-traditional Pizza Pizza restaurants, and closed one traditional and one non-traditional Pizza 73 restaurant. The six traditional restaurant openings were across Canada in British Columbia, Manitoba, Ontario, Quebec and two in Newfoundland.
PPL management expects to grow its traditional restaurant network by 2% to 3% and continue its renovation program through 2026, it said.
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