It's not just the brand value, it's also the store count that is also down. A lower store count reduces revenue and earnings for RFG, assuming flat same-store sales growth. So, it stands to reason that if you want growth in earnings, you'll either need increasing store count with flat same-store sales, steady store count and increasing same-store sales or preferably increasing store count and increasing same-store sales. All while keeping the cost of doing business in check.
I think if RFG can demonstrate same-store sales are increasing, and that the profitability of franchises is improving then an increase in store count will follow. Growth will be back and we'll have an investment rather than an expense.
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