Restaurant Brands International (RBI) credits its Tim Hortons and Burger King brands as key performers as the group continues to recover from the pandemic
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Tim Hortons achieved 11.1% year-on-year sales growth during the third quarter | Photo credit: Restaurant Brands International
Reporting its financial position for the three months to 30 September 2021, RBI said global system-wide sales grew 11% to $9.38bn compared to the same period in 2020.
Tim Hortons pulled in $1.8bn during the period, representing 11.1% year-on-year sales growth. The Canadian coffee chain now operates 5,137 stores around the world, with year-on-year outlet growth of 4.1% and like-for-like sales growth of 8.9% – including 9.5% in Canada, where the majority of its stores are located.
RBI controls the Burger King, Tim Hortons and Popeyes brands, a combined portfolio of 27,667 outlets in 100 countries. Burger King remains by far RBI’s largest brand, with a total of 18,923 restaurants and sales totaling $6.2bn.
“Overall, we saw a continued acceleration in system-wide-sales growth relative to 2019, reflecting improvements in the Tim Hortons Canada business as well as strength across each of our brand's international businesses," said RBI CEO José Cil.
Indicating a broader global economic recovery following more than 18 months of Covid-19 disruption, RBI said ‘on average’ 97% of its outlets around the world were open in the third quarter of 2021, including 98% of US and Canadian sites and 96% across other markets.
RBI also acknowledged changing consumer habits following Covid-19 lockdowns around the world, which have included the widening of e-commerce retail channels and delivery services. ‘With the pandemic affecting consumer behavior, the importance of digital sales, including delivery, has grown. We expect to continue to support enhancements of our digital and marketing capabilities’, the company wrote.
Despite clear indications of a sales recovery among its brands, RBI said the full ramifications of Covid-19 on its future business remained unclear and that it expected to see ‘continued impact’ on the group’s results in 2021.