Freshii Inc.’s founder defended the eatery’s decision to withdraw its outlook through its 2019 financial year after falling short on several measures in its most recent quarter, while the company’s stock plummeted nearly 30 per cent. The Toronto-based eatery opened 10 net new stores in its third quarter, ending Sept. 30, as it opened 18 locations and closed eight. The company had expected to have 730 to 760 stores by the end of its 2019 financial year. It had previously anticipated having at least 810 stores by that time, but lowered its expectations in September 2017. Still, Corrin assured analysts that the development pipeline remains healthy as Freshii has 175 stores in what it calls the active opening process.

Source: National Post November 08, 2018 18:00 UTC