Boston Pizza Royalties Income Fund Reports Strong Q4 and Full-Year 2025 Results

Highlights include record franchise sales, continued same-restaurant sales growth, and marketing initiatives

Published on Feb. 13, 2026

Got story updates? Submit your updates here. ›

Boston Pizza Royalties Income Fund and Boston Pizza International reported a strong finish to 2025, with record annual total franchise sales for the Boston Pizza brand and continued same-restaurant sales growth driven by takeout, delivery, promotional activity, and sports viewing. The company outlined marketing campaigns, menu updates, renovation plans, and early 2026 promotions.

Why it matters

As one of Canada's largest casual dining restaurant chains, Boston Pizza's performance provides insights into consumer dining trends and the broader restaurant industry. The company's ability to drive sales growth through menu innovations, marketing, and operational improvements is noteworthy, especially amid broader macroeconomic uncertainties.

The details

Fourth-quarter franchise sales from restaurants in the Royalty Pool totaled CAD 244.4 million, up 4.3% year-over-year, while full-year sales reached CAD 976.3 million, up 4.8%. Same-restaurant sales were 3.7% in Q4 and 4.7% for the full year, attributed to takeout, delivery, promotions, and sports viewing. Marketing initiatives included a 'Game Day' menu, holiday menu updates, and a gift card incentive program. The company renovated 9 restaurants in Q4 and 40 total in 2025, with plans for a similar pace in 2026. While there were no new restaurant openings in 2025, the company has projects underway for 2026.

  • In the fourth quarter of 2025, franchise sales totaled CAD 244.4 million.
  • For the full year 2025, franchise sales reached CAD 976.3 million.
  • Same-restaurant sales were 3.7% in the fourth quarter and 4.7% for the full year 2025.

The players

Boston Pizza Royalties Income Fund

A Canadian publicly-traded limited purpose trust that owns the trademarks and trade names used by Boston Pizza restaurants in Canada.

Boston Pizza International (BPI)

The company that operates and franchises Boston Pizza restaurants in Canada.

Jordan Holm

President of Boston Pizza Royalties Income Fund and Boston Pizza International.

Michael Harbinson

Chief Financial Officer of Boston Pizza Royalties Income Fund.

Got photos? Submit your photos here. ›

What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident (San Francisco Chronicle)

“Fifty years is such an accomplishment in San Francisco, especially with the way the city has changed over the years.”

— Gordon Edgar, grocery employee (Instagram)

What’s next

The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.

The takeaway

This case highlights growing concerns in the community about repeat offenders released on bail, raising questions about bail reform, public safety on SF streets, and if any special laws to govern autonomous vehicles in residential and commercial areas.