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Papa Murphy’s posts $1.9 million loss for Q3

By The Columbian
Published: November 8, 2017, 5:02pm

Vancouver-based pizza chain Papa Murphy’s has posted a $1.9 million loss for its third fiscal quarter. The loss amounts to an 11 cent drop per diluted share.

The losses continue a skid for the take-and-bake-pizza purveyor. Through the first nine months of the year, the company posted losses of $13.4 million, compared with $1.2 million in income for the same period one year earlier.

Weldon Spangler, who was named CEO in June, said the quarter was disappointing, but pizza sales within company-owned stores did show an upward tick. However, Papa Murphy’s is still aiming to sell off many of its company-owned stores and return to being 95-percent franchised.

Shares in Papa Murphy’s, traded on the Nasdaq Exchange as FRSH, closed trading at $5.52 on Wednesday, down 13 cents.

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