Ticker

Papa Murphy's is preparing for a sizeable retreat after parent company MTY Food Group identified dozens of loss-making US restaurants for closure. MTY plans to shut 68 corporate-owned locations across its portfolio, including roughly 45 to 50 Papa Murphy's stores.

MTY Food Group TSE: MTY reported lower second-quarter earnings as softer consumer traffic, inflation in key food categories and weaker corporate-store performance weighed on results, while management outlined plans to close 68 underperforming corporate-owned restaurants following a detailed portfolio review.

GAAP Measures: Segment profits were $59.9 million during the 13 week period ended May 31, 2026 (the “second quarter”), a decrease of $9.4 million compared to the same period in 2025. Impairment charge on right-of-use assets of $7.5 million during the 13 week period as a result of m anagement's decision to close 68 of its corporate locations in the coming months.

MTY Food Group is a diversified, acquisition-driven restaurant franchisor trading at a steep discount despite robust free cash flow. MTY's scale, technology investments, and brand diversification provide resilience and competitive advantages across economic cycles and consumer trends. With net debt at 2.1x EBITDA and C$108.7M as the last five-year average annual after-dividend free cash flow, MTY is well-positioned…

MONTREAL, July 02, 2026 (GLOBE NEWSWIRE) -- MTY Food Group Inc (TSX: MTY) OPEN TO: Analysts, investors and all interested parties     DATE: Friday, July 10, 2026     TIME: 8:30 AM Eastern Time     RAPIDCONNET: To instantly join the conference call by phone, please use the following URL to easily register and be connected into the conference call automatically: https://emportal.ink/4oguP37     CALL:  1-416-945-7677…