The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Vishal Shreedhar - National Bank - Analyst
: I just wanted to get your thoughts on comment that was indicated in the disclosure material where you say we see significant value in share
repurchases at current levels as the highly accretive use of capital, and we're going to remain disciplined in evaluating strategic acquisition
opportunities. Wondering if something has changed more so from the last quarter, and how we should contemplate acquisitions and even the
pace of repurchases going forward?
Question: Vishal Shreedhar - National Bank - Analyst
: Okay. And how do you evaluate the the backdrop right now for acquisitions? Obviously, it's a very volatile situation as you commented. And I
presume the earnings outlook as we go through the year may change or the consumer backdrop may change. So I wanted to get your thoughts.
Do you think there's better prices available and it's something to be prudent? Or do you think it's more of a long-term view and you'll buy it as
available?
Question: Vishal Shreedhar - National Bank - Analyst
: Okay. And with respect to that comment, where you said the consumers are still there, is that a comment in Canada and the US and it applies in
equal proportion for both?
Question: Derek Lessard - TD Cowen - Analyst
: Eric, I just maybe wanted to touch a little bit on the Canadian same-store sales for Q1. So maybe talk about, I guess, the order of magnitude of the
weather impact and the (inaudible) today. And maybe just -- maybe a comment around the GST holiday. It doesn't seem like you guys benefited
much, if any?
Question: Derek Lessard - TD Cowen - Analyst
: Okay. And on the GST holiday, anything to talk about there?
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APRIL 11, 2025 / 12:30PM, MTY.TO - Q1 2025 MTY Food Group Inc Earnings Call
Question: Derek Lessard - TD Cowen - Analyst
: Okay. And that's fair. And just maybe one last one for me. Could you maybe talk about -- you said you're actively monitoring the tariff developments.
I understand that it's an extremely fluid environment, but you did say that you're implementing some mitigation strategies. Just curious if you can
maybe talk about some of those strategies that you've got on the go?
Question: Michael Glen - Raymond James Ltd. - Analyst
: Eric, the change in CapEx cadence that you're seeing in this year versus last year, can you just help give some insight into what's changed on the
CapEx front where you're spending less money this year versus last year?
Question: Michael Glen - Raymond James Ltd. - Analyst
: Okay. And did you guys give a number for CapEx for the year, a guidance on it?
Question: Michael Glen - Raymond James Ltd. - Analyst
: Okay. And then in the opening remarks, Renee sort of highlighted that there has been a creeping higher uptick in corporate stores taking place,
and you spoke to some of that. But is there any specific intention on MTY's part to divest its corporate casual dining stores in the US?
Question: Michael Glen - Raymond James Ltd. - Analyst
: Okay. Perfect. And then just on the the consumer, you have seen headlines, and I know you referenced you read about this in the media, but a very
active push to value menu offerings in the US. Are you responding across any of your brands right now to -- in competitive intensity on the value
side?
Question: Michael Glen - Raymond James Ltd. - Analyst
: Okay. And then from your franchisees on the US side, are you hearing anything or any dialogue regarding labor challenges or labor availability
coming up?
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