Tim Hortons Inc. will shutter 36 underperforming restaurants in New England to focus its U.S. growth on the Northeast and Midwest. The decision led to a $20.9 million asset impairment charge in the third quarter, which swung the U.S. division to an operating loss of $17.5 million, the company said. Same-store sales in the United States, where Tim Hortons has more than 600 restaurants, rose 3.3 percent in the third quarter, down from the year-ago trend of a 4.3-percent increase. The ...
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Contact: Desiree Torres Desiree.Torres@penton.com