Post by
flamingogold on Nov 10, 2023 10:52am
Strong Scaddabush SSSG
SRV navigating a tough economy with laser precision. Payout ratio well below the limit at 87.8% (100% is the acceptable target). Scaddabush, while the minor contributor to the bottom line is experiencing strong SSSG of 10% and why they are planning on expanding with 4 new locations.
"We also opened our 11th Scaddabush restaurant this past quarter and plan to open four more locations in the months ahead to further capitalize on the strong momentum of this brand. While the current economic environment is having an impact on discretionary consumer spending, we are confident that these investments will further elevate our brands and enhance value for fund unitholders."