St. Louis delivers impressive Q1 results TORONTO, May 3, 2024 /CNW/ - Today, Aegis Brands Inc. (TSX:AEG) has reported financial results for the first quarter ended March 31st, 2024.   Highlights: System sales of $31.6 million in the first quarter increased by 17.2% over the prior year Same store sales increased by 12.9% in the quarter.  EBITDA from continuing operations for the quarter was $1.0 million compared to $0.8 million last year. Net loss from continuing operations for the quarter was $0.2 million or $0.00 per share compared to a loss of $0.6 million or $0.01 per share last year. Aegis closed the previously announced sale of the assets of Bridgehead Coffee on March 8th, 2024. St. Louis Bar & Grill St. Louis contributed $2.2 million and $2.5 million Net income and EBITDA respectively for the quarter. Same store sales rose by 12.9% in the first quarter which is primarily due to the 11.5% increase in traffic. Revenue in the first quarter rose $1 million over last year partially due to owning three corporate stores versus one in 2023. "St. Louis continues to grow sales and focus its efforts on increasing franchisee profitability. In the first quarter, we added approximately $2.1 million or an average of $23,000 per store towards the profitability of our franchisees" said Steven Pelton, President and CEO of Aegis Brands Inc. "Our procurement department did a great job managing input costs, allowing our menu prices to stay constant while increasing the profitability of our franchisees year over year. St. Louis will add new stores later this year and continues to build its pipeline for 2025 and beyond. Many franchisees and locations in Ontario, the East Coast and Winnipeg have been identified for growth. The company is currently focused on filling ...