Restaurant Brands International Inc. reported its first-quarter profit fell compared with a year ago as comparable sales at its Tim Hortons locations fell.
The company, which keeps its books in U.S. dollars, reported a profit attributable to common shareholders of US$135-million or 53 cents per diluted share compared with a profit of $148-million or 59 cents per diluted share a year ago. On an adjusted basis, the parent company of Tim Hortons, Burger King and Popeyes restaurants said it earned $255-million or 55 cents per diluted share for the quarter, down from an adjusted profit of $314-million or 66 cents per share in the same quarter last year.Analysts on average had expected a profit of 58 cents per share for the quarter, according to Thomson Reuters Eikon.
Revenue in the three-month period ended March 31 totalled nearly $1.27-billion, up from $1.25-billion a year ago. The increase came as comparable store sales at Tim Hortons fell 0.6 per cent, while Burger King comparable sales increased 2.2 per cent. Popeyes comparable sales increased 0.6 per cent.Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience.
globebusiness Probably because there’s too many of them... and the quality isn’t that good anymore
globebusiness Hope they fold! People finally find out that their products are inedible
globebusiness Back in the day they would bake everything fresh in-store. Everything was bigger, better, cheaper and fresher. Now it's just sugary processed crap.
globebusiness Probably because people are realizing their products have gone steadily downhill.
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