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Tim Hortons parent RBI plans to expand all three brands globally to 40,000 outlets

Tim Hortons parent RBI plans to expand all three brands globally to 40,000 outlets
Business
Restaurant Brands International Inc said on Wednesday it plans to expand the global presence of all three of its brands to more than 40,000 restaurants, from the current 26,000, over the next decade.

The owner of Burger King, Tim Hortons and Popeyes Louisiana Kitchen is aiming to boost its businesses by deploying various initiatives that range from app-based ordering to loyalty programs for its customers.

Restaurant Brands, which is scheduled to hold its investor day later in the day, expects its coffee, burger and chicken markets to grow between 5 per cent and 6 per cent per year over the next 5 years.

The company, which has been affected by slowing growth at its three iconic brands, had brought in the head of its Burger King unit, Jose Cil, as its chief executive officer earlier this year.

Last month, the company reported a 0.6 per cent drop in comparable sales at Tim Hortons for the quarter ended March 31, while same-store sales at Burger King grew 2.2 per cent, less than 3.8 per cent a year earlier.

© Thomson Reuters 2019

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