Tim Hortons parent Restaurant Brands tops quarterly sales estimates as company sees boost in traffic

📆 3/05/2022 11:05 PM
📰 globeandmail

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Restaurant Brands’ total revenue rose to $1.45-billion in the first quarter ended March 31, from $1.26-billion a year earlier

, beat estimates for quarterly revenue on Tuesday, boosted by higher prices and increased traffic at the Tim Hortons and Burger King parent’s restaurant chains as more consumers stepped out of their homes and resumed pre-pandemic habits.

The price hikes have helped the company cushion a hit from a decline in comparable sales at its Popeyes chain, which is grappling with staffing shortages and stiff competition from rivals launching similar menu items.

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