Q1 2026 Business Update
Food and beverage revenue from corporate restaurant operations increased by 10.3% to $64.7 million, compared to $58.7 million for the 12-week period ended November 17, 2024 ("Q1 2025").
Consolidated Same Store Sales ("SSS")(1) increased by 8.3%.
On September 1, 2025, SIR temporarily closed the Jack Astor's® location in Barrie, Ontario for a period of 30 days for a major renovation and to train personnel on a new service package, including new food and beverage menus, before re-opening on October 1, 2025. This renovation also included the unveiling of SIR's new concept, Freida's Beverage KitchenTM ("Freida's") at this location. SIR has revamped the menu so that every dish is designed for sharing, making each meal at Jack Astor's and Freida's an event to mix, match, and indulge together. SIR has developed Freida's as a place where the art of cocktail creation is crafted and celebrated through iconic categories of Margaritas, Classics, Dirty Sodas and more. With the combination of Jack Astor's and Freida's, SIR is defining a new era of social dining, with two distinct identities under one roof.
On September 15, 2025, SIR closed the Duke's Refresher® + Bar ("Duke's Refresher") location at the intersection of Queen Street East and Broadview Avenue due to current economic conditions and the anticipated impact of the current six-month closure of Queen Street East in downtown Toronto due to construction activity.
Subsequent Event
On December 3, 2025, SIR opened a new Jack Astor's + Freida's location in Oshawa, Ontario. This new location is expected to be added to the Royalty Pooled Restaurants effective January 1, 2027.
Results of Operations Summary
SIR has advised the Fund that food and beverage revenue from corporate restaurant operations totaled $64.7 million in Q1 2026, an increase of 10.3% compared to $58.7 million in Q1 2025. The increase was primarily attributable to consolidated SSS(1) growth of 8.3% for the quarter and the opening of a new Scaddabush Italian Kitchen & Bar® ("Scaddabush") location in Barrie, Ontario during Q4 2025, partially offset by the permanent closures of the Jack Astor's locations in North York, Ontario (closed on September 4, 2024) and Longueuil, Quebec (closed on April 27, 2025), as well as the Duke's Refresher location at Queen Street East and Broadview Avenue in Toronto (closed on September 15, 2025).
Same Store Sales(1) ($000s)
12-Week
Period Ended
November 23, 2025
12-Week
Period Ended
November 17, 2024
Variance
Jack Astor's
37,538
35,070
7.0 %
Scaddabush
19,291
18,020
7.1 %
Signature Restaurants
5,816
4,761
22.2 %
Same Store Sales(1)
62,645
57,851
8.3 %
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 Q1 2026 does not include the new Scaddabush restaurant in Barrie, Ontario, the closed Jack Astor's locations in North York, Ontario and Longueuil, Quebec, and the Duke's Refresher at the intersection of Queen Street East and Broadview Avenue (now closed), 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 income (loss) and comprehensive income (loss) was $5.8 ...
