For its third quarter that ended on September 24th, 2023 Aegis Brands Inc. reported that its St Louis Bar & Grill chain of casual restaurants generated revenue of $4,285,000 and $12,619,000 year to date. System sales increased by 5.9 percent to $32,734,000 and 9.9 percent to $92,412,000 in the quarter and year to date respectively. Revenue at its Bridgehead coffeehouse chain improved to $4,097,000, representing an increase of 21.5 percent, over the same quarter last year. During the quarter, Bridgehead opened its first licensed location, in the Ottawa airport. During the quarter, St. Louis’ same-store-sales increased 2.4 percent and 7.4 percent year to date while same-store-sales at Bridgehead increased 17.4 percent and 25.6 percent for the year. “We are turning a corner at Aegis, as our investments in longer-term growth begin to return results and we report our first quarter of income from operations since 2018,” said President, CEO Steven Pelton. “We have the plans, the commitment, the expertise, and the partners to build on this momentum.” St. Louis partnered with Sweet Jesus ice cream and launched a test at five locations. To date, the test has increased dessert sales in those stores substantially, without adding material capital investment. Due to the early success, St. Louis will be expanding the Sweet Jesus test to an additional ten locations. Also in the third quarter, St. Louis entered into an agreement with Sports Interaction, an online sports betting company. This partnership creates a new revenue stream while creating an exciting atmosphere within the locations while the big games are on. St Louis also plans to open two Wing City by St Louis quick casual restaurants in Toronto during the fourth quarter. The locations are at 1154 St Clair Ave West in the city’s Corso Italia/Davenport neighbourhood and at 700 King St. West in the Entertainment District. Wing City will offer a lower investment option for franchisees while expanding their reach to guests in a hurry. Featuring the St. Louis wings, boneless, plant-based wings and the signature fries and dill sauce, the menu will also include many unique items such as chicken fried ribs, and a signature chicken thigh sandwich.
Aegis Brands Inc., 2040 Yonge St., Suite 200B, Toronto, Ontario M4S 1Z9 (437/747-4334 www.aegisbrands.ca)