The Ontario-based coffee chain was the quick-service restaurant group’s key sales performer last year and achieved notably robust fourth quarter sales
.jpg.aspx?lang=en-GB)
Tim Hortons opened 25 net new stores across its home market in the fourth quarter of 2024 | Photo credit: Daniel Lincoln
Canadian quick-service restaurant group Restaurant Brands International (RBI) has confirmed plans to return Tim Hortons to annual net outlet growth in Canada in 2025.
During an investors call following the group’s full-year results, RBI CEO Joshua Kobza said the Ontario-based coffee chain was gearing up for net unit growth over the next 12 months, with a focus on expansion in under-penetrated Western regions and rural areas.
Tim Hortons opened 25 net new stores across its home market in the fourth quarter of 2024 to reach 3,886 sites alongside 10 new outlets in the US, where it now operates 653 stores.
RBI, which combines Canada and US sales figures into one reporting segment, said Tim Hortons achieved 4.7% year-on-year sales growth during the 12 months ended 31 December 2024 to reach $7.5bn.
The coffee chain’s like-for-like sales growth in Canada reached 4.3%, which Kobza said ‘significantly outpaced major peers in the market’. The RBI CEO highlighted increased sales in the morning day part driven by high-single-digit sales growth in breakfast menu items and improvements in average weekday morning drive-thru times, which now average 28 seconds per car.
Kobza also cited warmer than average winter weather as strongly contributing to a 6% increase in cold beverage sales during the period, with iced capps, cold brews and quenchers surpassing volume expectations. Tim Hortons has been trialling new espresso machines at 100 Canada outlets, which Kobza said are ‘showing promising early potential’, but did not provide further details.
Outside of North America, Tim Hortons operates 1,504 stores across 20 international markets. The coffee chain entered Malaysia and Panama in 2024 and plans to launch in Indonesia in 2025 in partnership with Tokyo-based licensee Marubeni Corporation.
Mexico, Saudi Arabia, India and South Korea are among Tim Hortons’ fastest-growing international markets, with the brand opening 49, 19, 12 and 11 net new stores respectively over the last 12 months.
RBI achieved 5.4 % year-on-year group sales growth in 2024 to reach $44,476m. The QSR group currently operates 32,125 outlets globally across its licensed foodservice portfolio, which also includes the Burger King, Popeyes, Firehouse Subs fast-food chains.