US premium baker Tootie Pie has posted a drop in second-quarter revenues but said off-season sales have held up well.
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US economic conditions contributed to an 8% drop in revenues for the quarter, which compared to US$262,225 for the same period of 2008.
Operating results for the quarter ended 30 September however, improved 41% to a net loss of $139,165 from a $236,545 loss in the prior year.
Don Merrill, Tootie Pie Company’s president and CEO, said: “I continue to be pleased by how well we have responded to the US economic downturn. Off season sales have held up well and our cost saving measures continue to produce better bottom line results; bringing us closer to achieving our operational goals for these months.”
He added: “October sales were up 15%. As we head into our busiest selling season, indications are that this could very well be the best holiday season ever for the Tootie Pie Company.”
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By GlobalDataThe company recently announced it had finalized the acquisition of its first two Tootie Pie Shops in San Antonio (Benny’s Bagels).
“We plan for these locations to serve as models for more shops and possible franchises in the very near future and we continue to expand our base of customers through multiple outlets, such as HEB, as well as our online business at tootiepieco.com. We remain excited about the future of the Tootie Pie Company,” Merrill said.
