Page 10 - Retail Zoo News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Retail Zoo renegotiating debt after profit slump Save Share Boost Juice and Betty’s Burgers owner Retail Zoo is hoping for a rebound in earnings this year after forced store closures contributed to a 69 per cent drop in bottom line profits in 2020. According to accounts filed by Retail Zoo’s holding company, Roar Bidco, net profit fell to $2.8 million in the 12 months ending June from $9.1 million in 2019, including $9 million in brand impairments and $3.1 million in costs for a proposed initial public offering. Earnings before interest tax depreciation and amortisation fell to $34 million compared to $37 million in 2019. While sales from company-owned stores, royalties, franchisees fees and supplier rebates rose 5 per cent to $136 million, Retail Zoo had to come to the aid of franchisees when most of its stores were forced to close and shift to a takeaway-only model during the national lockdown last March and April.

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