News Formal

After weak third-quarter sales, Tim Hortons' parent rolls up its sleeves to fix struggling business

  • 📰 CNBC
  • ⏱ Reading Time:
  • 40 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 72%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

After another disappointing quarter from Tim Hortons, the owner of the Canadian coffee chain shared more about its plans to reinvigorate the business.

The coffee chain is in the middle of a turnaround after several years of disappointing sales growth.

Sales of both hot and cold beverages were weaker during the quarter. Limited-time offers did not help declining sales of the Iced Capp, Tims' version of the Frappuccino. Canada's cold weather means that fewer customers drink cold beverages year round. The chain also unveiled new spill-resistant lids for its coffee during the third quarter. The majority of Tims customers pick up their coffee via a drive-thru.

"Given our leadership in convenience and frequency, we continue to believe that we can win market share and lunch over time with the right investment and focus," Cil said.Starbucks' One bright spot for Tims was the continued success of its loyalty program, which launched in March. Half of all of its transactions come from rewards members.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The life and rise of Tim Sweeney, the billionaire CEO and founder of the company behind 'Fortnite,' Epic Games'Fortnite' raked in over $2.5 billion in 2018. See how the CEO of the company behind the game, Tim Sweeney, lives and spends his money. How does he spend it. How does he make it. Virtual Currency. Oh wait but for him he gets 2.5m We spend 100 dollars a time. Wow. -100 -100 2.5
Source: BusinessInsider - 🏆 729. / 51 Read more »

Insurer AIA third-quarter new business posts tepid rise as Hong Kong demand slowsAsia-focused insurer AIA Group Ltd said on Monday it posted only a sma...
Source: Reuters - 🏆 2. / 97 Read more »

HSBC CFO says to expect 'material action' against struggling business unitsThe bank is looking at ways to reshape its non-ring-fenced bank in the United Kingdom and its U.S. business, HSBC Group CFO Ewen Stevenson said.
Source: CNBC - 🏆 12. / 72 Read more »