Fast-food Fund Blames Harsh Weather For Losses

The Star:

KFC and Taco Bell restaurant operator Priszm Income Fund blamed harsh winter weather for a first-quarter loss of $1.48 million (U.S.), versus a loss of $132,000 in the prior-year period, as sales sagged by $500,000 to $100.7 million.

“The sales decline, in combination with increased food and labour costs resulted in reduced profitability relative to the prior year,” the fund said.