Pizza Pizza Royalty Corp., which indirectly owns the Pizza Pizza and Pizza 73 Rights and Marks, released on Tuesday financial results for the three months and nine months ended September 30, 2025, indicated increased same store sales as well as a growing restaurant network.
“While our performance was slightly stronger versus the prior year, we’ve seen heightened competition across the QSR category. We’re responding by investing in digital ordering, improving speed of service, and delivering craveable new offerings that will differentiate our brand and drive growth,” said Paul Goddard, President and CEO of Pizza Pizza Limited.
Third Quarter highlights:
- Same store sales increased 0.1%
- Royalty Pool sales increased 2.0%
- Adjusted earnings per share decreased 1.3%
- Restaurant network increased by 11 net locations
Year to Date highlights:
- Same store sales increased 1.1%
- Royalty Pool sales increased 2.5%
- Adjusted earnings per share was flat
- Restaurant network increased by 14 net locations
“Royalty Pool System Sales for the Quarter increased 2.0% to $158.8 million from $155.8 million in the same quarter last year. By brand, sales from the 694 Pizza Pizza restaurants in the Royalty Pool increased 2.3% to $138.0 million for the Quarter compared to $134.9 million in the same quarter last year. Sales from the 100 Pizza 73 restaurants was unchanged at $20.8 million for the Quarter compared to the same quarter last year,” said the company.
“Royalty Pool System Sales for the Period increased 2.5% to $471.5 million from $460.0 million in the same period last year. By brand, sales from the 694 Pizza Pizza restaurants in the Royalty Pool increased 2.5% to $407.2 million for the Period compared to $397.0 million in the same period last year. Sales from the 100 Pizza 73 restaurants increased 2.2% to $64.4 million for the Period compared to $63.0 million in the same period last year.
“For the Quarter and Period, the increase in Royalty Pool System Sales is driven by the same store sales and new restaurants added to the Royalty Pool on January 1, 2025. Additionally, while the number of restaurants in the Pizza 73 Royalty Pool remains less than 2019 when there were 104 restaurants, the negative impact on Royalty Pool System Sales due to prior year restaurant closures has been mitigated by the Make-Whole Carryover Amount.”
As previously announced, the number of restaurants in the company’s Royalty Pool increased by 20 net locations to 794 on the January 1, 2025 Adjustment Date, and consists of 694 Pizza Pizza restaurants and 100 Pizza 73 restaurants. The number of restaurants in the Royalty Pool will remain unchanged through 2025, it explained.
During the Quarter, Pizza Pizza Limited opened four traditional and 10 non-traditional Pizza Pizza restaurants, and closed one traditional and three non-traditional Pizza Pizza restaurants. Additionally, at the Pizza 73 brand, PPL opened two traditional restaurants and closed one traditional restaurant.
During the Period, PPL opened nine traditional and 17 non-traditional Pizza Pizza restaurants, and closed three traditional and 11 non-traditional Pizza Pizza restaurants. PPL also opened four traditional Pizza 73 restaurants, and closed two Pizza 73 traditional restaurants.
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