Pizza Pizza fund reports growth in same-store sales

Pizza Pizza Royalty Income Fund said Monday that it posted same-store sales growth for its first quarter of 3.7 per cent compared with a year ago.

The Pizza chain income fund (TSX: PZA.UN) said system sales for the 609 restaurants in the royalty pool increased 27 per cent to $113.5 million for the 13-week quarter ended March 30.

That compared with sales of $89.5 million for the same quarter in 2007.

Sales from the 559 Pizza Pizza restaurants in the quarter were $94 million, while sales from the 50 Pizza 73 restaurants were $19.5 million.

Pizza Pizza units were up four cents at $9.25 on the Toronto Stock Exchange on Monday.