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

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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.

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