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 Financial, Inc., Research Division - Analyst
: In your remarks in your disclosure, you indicated that the backdrop is still good, I'm paraphrasing. Just wondering if you can provide some color
on what you're seeing with the consumer as we move through the months here and the interest rates continue to take hold on people's payments
each month.
Question: Vishal Shreedhar - National Bank Financial, Inc., Research Division - Analyst
: Okay. And you started reporting same-store sales growth. Obviously, a lot of things in that number, including the inflation, the traffic and the
benefits from the various initiatives that MTY has been implementing. As we look at that number, what is a good heuristics or kind of a thumbnail
of what MTY should achieve on same-store sales growth over the long term given all these initiatives that you've been working on over several
years, should we anticipate MTY to (inaudible) inflation, or is inflation a good proxy, or how should think about it?
Question: Vishal Shreedhar - National Bank Financial, Inc., Research Division - Analyst
: Okay. And with respect to some of the challenges that you've been talking about over the last many quarters, the labor challenges, supply chain,
just wondering if you can update us on where -- including the labor challenges with installing new sites. Just wondering if you can update us on
your views on where we're at.
Question: Vishal Shreedhar - National Bank Financial, Inc., Research Division - Analyst
: Okay. And before you commented on difficulty of installing new restaurants due to a variety of challenges, are you still seeing that, and do you
think those have dissipated to some degree?
Question: George Doumet - Scotiabank Global Banking and Markets, Research Division - Analyst
: Eric, congrats on a strong quarter. I just wanted to get a story on the Canadian comp, I think it was 6%. Any areas of strength that you want to call
out? And how should we think about, in general, like the performance intra-quarter over there. Do you see an acceleration as the quarter moved
on? Was it pretty stable?
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JULY 11, 2023 / 12:30PM, MTY.TO - Q2 2023 MTY Food Group Inc Earnings Call
Question: George Doumet - Scotiabank Global Banking and Markets, Research Division - Analyst
: So any banners that you want to call out that were -- contributed to that number?
Question: George Doumet - Scotiabank Global Banking and Markets, Research Division - Analyst
: Okay. And moving over to the corporate margins, it came in pretty strong, 13.5%. I think last quarter, it was closer to 9%. And I think last quarter,
you mentioned you're only expecting modest expansion. It seems like it came in a lot stronger. So maybe can you talk a little bit about what drove
that strength in the corporate margins, and maybe how we should think of those margins going forward?
Question: George Doumet - Scotiabank Global Banking and Markets, Research Division - Analyst
: Got it. And I think you also -- last quarter on Papa Murphy, I think you mentioned an inflection in performance acceleration to Q2. So can you talk
a little bit about how Papa Murphy did specifically in the quarter, please?
Question: George Doumet - Scotiabank Global Banking and Markets, Research Division - Analyst
: Okay. That's helpful. And just 1 last one for me. Obviously, a lot of attention being paid to AI in the restaurant industry as of late. Can you talk a little
bit about the use of AI for us and maybe what banners you think lend themselves to greater usage in the medium to longer term?
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