Yogen Fruz IT'S ALIVE, IT'S ALIVE Message Board

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Gold/Mining/Energy : Yogen Fruz IT'S ALIVE, IT'S ALIVE

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To: telecomguy who wrote (2434)	5/2/2000 8:18:00 AM
From: Stocker	of 2453

Wow, pretty dead around here. From today's Financial Post...... Yogen Fruz loss deeper in second quarter $25.8-million Kim Hanson Financial Post Yogen Fruz World-Wide Inc., the Markham, Ont.-based frozen yogurt franchise, posted widened second-quarter losses yesterday. Net losses for the period ended Feb. 29 were $25.8-million (56½ a share) compared with $905,000 (2½) for the same period last year. Revenue for the quarter fell to $15.6-million from $18.2-million over the same time. The company attributed the losses to writedowns, store closures and sales declines. David Stein, who recently took the reigns as chief executive, said the writedowns do not affect Yogen Fruz's cash position. Yogen Fruz was started in 1986 by Serruya brothers Michael and Aaron. By 1997, the company had doubled its stock price and built a frozen food firm with a market cap of more than $235-million. The company expanded into selling ice cream in addition to frozen yogurt in grocery stores. But its performance has since fizzled. In previous quarters, the company blamed losses on lower butterfat prices, foreign exchange losses and a decrease in franchising income and fees. The stock has also been hammered over its failure to launch an ambitious expansion plan in the United States with its intended acquisition of U.S.-based Eskimo Pie Corp. At its annual meeting in March, the company said it would focus more attention on its consumer products business.

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