Tim Hortons Inc., the Oakville, Ontario-based bakery-café chain, managed to grow its net income in the Dec. 29-ended fourth quarter, even as its decision to end its co-branded relationship with Cold Stone Creamery in Canada and close a few dozen underperforming units in the United States dampened profitability in an otherwise robust quarter. The 4,485-unit chain’s same-store sales increases of 1.6 percent in Canada and 3.1 percent in the United States outperformed full-year gains in both countries.
 

4Q NET INCOME

Result: $100.6 million Canadian, or 69 cents per share
% Increase: 0.3% (from $100.3 million Canadian, or 65 cents per share)

4Q REVENUE

Result: $898.5 million Canadian
% Increase: 10.7% (from $811.6 million Canadian)

4Q SAME-STORE SALES

% Increase at U.S. units: 3.1%


% Increase at Canadian units: 1.6%


Source: Company report



FULL YEAR NET INCOME

Result: $424.4 million Canadian, or $2.82 per share
% Increase: 5.3% (from $402.9 million Canadian, or $2.59 per share)

FULL YEAR REVENUE

Result: $3.26 billion Canadian
% Increase: 4.3% (from $3.12 billion Canadian)

FULL YEAR SAME-STORE SALES

% Increase at U.S. locations: 1.8%


% Increase at Canadian units: 1.1%


Source: Company report



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Contact Mark Brandau at mark.brandau@penton.com.
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