USA: Rocky Mountain Chocolate Factory, Inc. reports 20% increase in second quarter earnings
Rocky Mountain Chocolate Factory, Inc. (Nasdaq: RMCF) yesterday announced higher revenues and earnings for the second quarter and first half of FY2002. For the quarter ended August 31, 2001, non-retail revenues increased 23 percent to $4.3 million, compared with $3.5 million in the second quarter of FY2001. Retail revenues decreased 82 percent to $384,000, reflecting the successful execution of the Company's strategy to exit its Company-owned store program. On May 1, 2001, the Company completed the conversion of substantially all of its Company-owned stores to franchised-owned stores in order to focus its resources on supporting and growing its franchise base. Comparable-store sales at franchised stores were approximately the same when compared with the second quarter of FY2001.
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