Tim Hortons' parent vows to 'refocus' as sales sink in Q4
The chief executive officer of Restaurant Brands International Inc.
isn't hiding from the challenges facing its Tim Hortons unit after sales
fell sharply in the latest quarter.
The coffee-and-doughnut chain's same-store sales fell 4.3 per cent in
the fourth quarter. And the eroding performance at stores open at least
a year was even more substantial in Canada, with sales falling 4.6 per
It was an otherwise impressive quarter for Restaurant Brands, with
sales growth in its Burger King and Popeyes Louisiana Kitchen units. The
latter's performance was particularly notable as same-store sales
surged 34.4 per cent on the back of what Cil called a "game-changer"
Overall, Restaurant Brands' quarterly adjusted profit rose to US$0.75
per share from US$0.68 a year earlier. Analysts, on average, were
expecting US$0.73 in adjusted earnings per share.
The company also announced its quarterly dividend will rise two cents to US$0.52 per share.