The $9 mil is for store renovations as the company said. It's under IP because it's an intangible. Store purchases from franchisees is classified as physical NC assets.
The negatives:
Margins have squeezed a little. Should be expected as some other players have reported the same (with some which Accaeric mentioned going into a negative position).
The positives:
The company is still very profitable... and the company shares are trading at 2x annualised OCF for the dec qtr.
The $9 mil is for store renovations as the company said. It's...
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