Strong trading for Canadian coffee chain Tim Hortons, which has seen sales exceed pre-pandemic levels for the first time, has been credited with driving global sales growth of 14% for Restaurant Brands International
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Tim Hortons achieved 16.7% sales growth in its native market to reach $1.56bn | Photo credit: Tim Hortons
Restaurant Brands International (RBI) has highlighted Tim Hortons Canada as its standout sales performer after the fast-food holding company achieved same store sales growth of 14% for the second quarter of 2022.
Strong trading for Ontario-based Tim Hortons, which operates over 3,900 stores in Canada and an additional 1,400 globally, achieved 16.7% sales growth in its native Canadian market to reach $1.56bn.
Meanwhile Tim Hortons outlets in the rest of the world reported a 14% rise for the period ended 30 June 2022, reaching $270m.
The company, which accounts for approximately 60% of revenue for RBI, has added nearly 300 new net stores since its second quarter in 2021, driven by expansion in China.
"The team at Tim Hortons Canada delivered exceptional results this quarter. In the second quarter, we drove sales above pre-pandemic levels for the first time since the onset of the pandemic and continue to build strong momentum as we move to accelerate growth. We believe there is a long runway for Tim's in Canada, anchored by great product quality, menu and digital innovation, and a strong group of restaurant owners," said José Cil, CEO, RBI.
RBI, which also operates fast food chains Burger King, Popeyes and Firehouse Subs, reported total revenues of $1.64bn for the second quarter. The Burger King, Popeyes and Firehouse Subs brands achieved sales growth of 14.6%, 10% and 2% respectively for the period.
The restaurant group said that it had been impacted by increases in commodity, labour and energy costs in the quarter due to the economic impact of Covid-19 and the war in Ukraine. It warned that further significant increases in inflation, as well as local pandemic restrictions in markets such as China, could affect its full 2022 performance.