Second Cup: Canada’s Lifestyle Hangout?
(1 votes, average: 5.00 out of 5)
Loading ...November 26, 2008 by Admin
Filed under Business, Stock Profiles
Second Cup (TSX: SCU.UN-T) was founded in 1975 in Toronto. It is seen as the Canadian answer to Starbucks, especially in the east and central regions of Canada, although many people seem to prefer the latter. There are currently over 350 Second Cup cafes in Canada. There are also cafes in international locations.
Like its competition, Second Cup offers a lifestyle environment, with plush seats, wireless Internet (Second Cup uses Rogers, while Starbucks in Canada is with Bell) . Menu-wise, Second Cup isn’t all that different from its competition either. In addition to the standard fare of lattes, hot chocolate and teas, Second Cup also offers seasonal drinks. For Holiday 2008, drinks include: Mint Chocolate Latte, Gingerbread Latte and the Candy Cane Hot Chocolate. Most of these holiday drinks also have “Chiller” (cold blended coffee) versions. The cafe also offers a selection of pastries, some sandwiches and cold drinks, included blended coffees and juices.
But unlike Starbucks which offers mostly traditional brewed coffee, Second Cup offers brewed coffee flavours including hazelnut, vanilla and Irish Cream. In addition, Second Cup cafes are franchises while Starbucks is company-owned.
Second Cup cafes seem to be more commonly seen in central provinces. For example, there are over 30 cafes in Toronto and Montreal areas, respectively, while there aren’t even 20 cafes in all of British Columbia. This is likely because BC is so close to Starbuck’s home-base in Seattle.
The Second Cup Royalty Income Fund was listed on the Toronto Stock Exchange for the first time in December, 2004. On Tuesday, November 25, it opened at 4.41 and closed at 4.50. Its 52-week high and low were 4.00and 9.74.
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