Tim Hortons’ new lunch offerings and single-serve coffee platform lifted profit, revenue and same-store sales for the third quarter ended Sept. 24, reported Oakville, Ontario-based parent, Tim Hortons Inc., on Thursday.
“Our same-store sales growth was particularly strong in our U.S. business,” president and chief executive Marc Caira said. “We still have more work ahead of us as we position Tim Hortons for sustainable and profitable growth in today’s competitive reality, and we continue to develop our comprehensive strategic roadmap.”
In Canada, higher average checks due to price increases drove same-store sales gains, while a rise in transactions bumped up U.S. same-store sales.
Tim Hortons has 3,500 locations in Canada, 817 units in the United States and 33 outlets in the Persian Gulf.
ADJUSTED NET INCOME
Result: $113.9 million, or 75 cents per share% Increase: 10.7% (from $105.7 million, or 68 cents per share)
REVENUE
Result: $825.4 million% Increase: 2.9% (from $802 million)
SAME-STORE SALES
% Increase at Canadian units: 1.7%
% Increase at U.S. units: 3%
Source: Company report
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