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RBI Profit Jumps Despite Tim Hortons’ Slow Sales Growth
Burger King’s U.S. turnaround helped lift comparable sales 3.8% as adjusted earnings rose to US$1.07 per diluted share, the company said.
- On Thursday, Restaurant Brands International Inc. reported a second-quarter profit of US$507 million, with revenue reaching US$2.5 billion and overall comparable sales growth of 3.8 per cent.
- Burger King led performance with comparable sales jumping 8.6 per cent, while Popeyes sales fell 5.1 per cent and Tim Hortons remained roughly flat in Canada.
- CEO Josh Kobza acknowledged the chain's marketing "failed to land how executives hoped" and noted it struggled to lap last year's major platform launches.
- The company plans a Harry Potter partnership featuring themed doughnuts and quenchers for the coming months, alongside new breakfast offerings and holiday promotions.
- Macroeconomic uncertainty continues to weigh on consumer spending, forcing lower-income households to cut back on restaurant meals; competitor McDonald's Corp. MCD-N reported sales growth this week that missed analysts' expectations.
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The parent company of Burger King, among others, earned more last quarter from the sale of Whoppers and other fast food from its chains. The company, Restaurant Brands International (RBI), recorded higher revenue and profit in the first half of this year, partly due to good results at Burger King.
·Apeldoorn, Netherlands (Kingdom of the)
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The Toronto Star+5 Reposted by 5 other sources
Tim Hortons parent Restaurant Brands International reports higher Q2 profit
MIAMI - Tim Hortons parent company Restaurant Brands International Inc. reported a second-quarter profit attributable to common shareholders of US$507 million.
·Toronto, Canada
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Coverage Details
Total News Sources13
Leaning Left4Leaning Right2Center3Last UpdatedBias Distribution45% Left
Bias Distribution
- 45% of the sources lean Left
45% Left
L 45%
C 33%
R 22%
Factuality
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