MONTREAL – Restaurant franchisor and operator MTY Food Group Inc. said it plans to close 68 underperforming corporate-owned locations over the next nine months as it reported its second-quarter profit and revenue fell compared with a year ago.
MTY chief executive Eric Lefebvre says the second-quarter results reflected continued pressure on consumer spending and a challenging operating environment.
The company behind Thai Express, Manchu Wok, Mr. Sub and scores of other brands says it earned $15.4 million in net income attributable to owners or 67 cents per diluted share for the quarter ended May 31.
The result compared with a profit of $57.3 million or $2.49 per diluted share in the same quarter last year.
On an adjusted basis, MTY says it earned 97 cents per diluted share in its latest quarter compared with an adjusted profit of $1.17 per diluted share a year earlier.
Revenue for the quarter totalled $279.9 million, down from $304.9 million in the same quarter last year, as same-stores sales fell 2.1 per cent.
This report by The Canadian Press was first published July 10, 2026.
Companies in this story: (TSX:MTY)
