Sales Drop In Second Quarter
Forget about the US credit downgrade, forget about Greece and Italy and Spain defaulting, forget about the rising/falling Loonie, forget about government stimulus, forget about unemployment figures - - - if you want to know the true health of the Canadian economy there is no better barometer than our iconic coffee shop named after a famous Toronto Maple Leafs player.
While the company was still able to show a profit, that profit came from raising prices and not from increasing market share. In fact their same-store purchases actually dropped in the second quarter this year.
The explanation for the stall in sales is twofold according to company execs, mounting competition from Ronald and his McCafe and more cautious consumer spending.
So forget about what finance ministers have to say and all those over-educated financial wizards (who got us into this mess) if you really want to know if the Canadian economy is headed in the right direction, according to Timmies, things could be better.
No comments:
Post a Comment
Your comment will appear after moderation before publishing,
Thank you for your comments.Any comment that could be considered slanderous or includes unacceptable language will be removed.
Thank you for participating and making your opinions known.
Note: only a member of this blog may post a comment.