07:54 AM EDT, 05/02/2025 (MT Newswires) -- Aegis Brands ( SCUPF ) on Friday said adjusted earnings increased while system sales fell.

Adjusted net income rose to $240,000, or $nil per share, compared with $69,000, or $nil per share, in the prior-year period.

At the same time, system sales narrowed by 5.2% to $30.1 million and same store sales fell by 7.7%. The lower same stores sales plus the closure of three underperforming stores more than offset the additional sales of the four new stores added in the past year, the company said. A few locations temporarily closed, but are expected to contribute in the long-term as they are renovated and refranchised.

"Over the past 18 months, we have been working to bring our strategy to life. With the new menu, improved hospitality through revamped training and the new look for the brand, the three pillars of our growth are now in market" said Chief Executive Steven Pelton. "We expect these changes to provide steady increases to traffic, sales and franchisee profitability for many years to come."