Resilient Performance in Challenging Conditions
Despite extreme weather disruptions, same-store sales remained largely stable, demonstrating resilience against macroeconomic headwinds.
Strong Digital Sales Growth
Digital sales increased by 7% in the first quarter, representing 22% of total sales, reflecting ongoing investments and brand-level initiatives.
Robust Cash Flow Generation
Cash flows from operating activities were $58.5 million, up 9% year-over-year, and free cash flows net of lease payments increased by 18%.
Strong New Store Pipeline
MTY opened 70 locations with over 100 locations under construction, indicating a strong pipeline and anticipated improvement in restaurant openings.
Shareholder Returns through Buybacks and Dividends
Repurchased just under 300,000 shares and paid $7.7 million in dividends, indicating continued commitment to returning value to shareholders.