Q2 2026 Business Update
Food and beverage revenue from corporate restaurant operations increased by 4.0% to $68.1 million, compared to $65.5 million for the 12-week period ended February 9, 2025 ("Q2 2025").
Consolidated Same Store Sales ("SSS")(1) increased by 0.5%.
On December 3, 2025, SIR opened a new Jack Astor's® Bar & Grill ("Jack Astor's") location in Oshawa, Ontario that includes its new concept, Freida's Beverage Kitchen™ ("Freida's"). This Jack Astor's + Freida's location is expected to be added to the Royalty Pooled Restaurants (the "Royalty Pool") effective January 1, 2027.
Effective January 1, 2026, the new Scaddabush Italian Kitchen & Bar® ("Scaddabush") location in Barrie, Ontario was added to the Royalty Pooled Restaurants, and the closed Jack Astor's location in Longueuil, Quebec was removed. The Royalty Pool currently consists of 52 restaurants, including: 35 Jack Astor's restaurants, 14 Scaddabush locations, REDS Square One®, The Loose Moose Tap + Grill® and Edna + Vita®.
Results of Operations Summary
SIR has advised the Fund that food and beverage revenue from corporate restaurant operations totaled $68.1 million and $132.9 million in Q2 2026 and YTD 2026, respectively, representing increases of 4.0% and 7.0% compared to $65.5 million and $124.2 million in Q2 2025 and YTD 2025 (the 24-week period ended February 9, 2025), respectively. The increases were primarily attributable to consolidated SSS(1) growth of 0.5% and 4.2% for Q2 2026 and YTD 2026, respectively, and the opening of the new Scaddabush location in Barrie, Ontario (on June 25, 2025) and the new Jack Astor's + Freida's location in Oshawa, Ontario (on December 3, 2025), partially offset by the permanent closure of the Jack Astor's locations in North York, Ontario (on September 4, 2024) and Longueuil, Quebec (on April 27, 2025) and the Duke's Refresher® + Bar ("Duke's Refresher") location at Queen Street East and Broadview Avenue in Toronto (on September 15, 2025).
Same Store Sales(1)
($000s)
12-Week
Period Ended
February 15,
2026
12-Week
Period Ended
February 9, 2025
Variance
24-Week
Period Ended
February 15,
2026
24-Week
Period Ended
February 9, 2025
Variance
Jack Astor's
39,533
39,428
0.3 %
77,071
74,498
3.5 %
Scaddabush
20,000
19,760
1.2 %
39,291
37,780
4.0 %
Signature Restaurants
5,380
5,434
(1.0 %)
11,196
10,195
9.8 %
Same Store Sales(1)
64,913
64,622
0.5 %
127,558
122,473
4.2 %
SSS(1) performance includes all SIR restaurants, except for those restaurants that were not open for the entire comparable periods in Fiscal 2026 and Fiscal 2025. Accordingly, SSS(1) performance for Q2 2026 and YTD 2026 does not include the new Jack Astor's restaurant in Oshawa, Ontario, the new Scaddabush restaurant in Barrie, Ontario, the closed Jack Astor's locations in North York, Ontario and Longueuil, Quebec, and the closed Duke's Refresher at the intersection of Queen Street East and Broadview Avenue, since these were not open for both comparable periods in Fiscal 2026 and Fiscal 2025. The seasonal Abbey's Bakehouse® is also not included as it is not a SIR restaurant.
Net loss and comprehensive loss was $21.5 million for Q2 2026, compared to $1.6 million for Q2 2025. Net loss and comprehensive loss was $15.6 million for YTD 2026, compared to $6.9 million for YTD 2025. The negative variances primarily reflect changes in the amortized cost of the Ordinary LP Units and Class A Units of the ...
