Lower Profits = Higher Prices at Tim Hortons

Restaurant Brands 2017

Restaurant Brands, the parent company of Tim Hortons, Popeyes and Burger King, had lower profits in the last quarter and has responded by raising prices for some food and beverage items at Tim Hortons.

Restaurant Brands had a profit of $89.5 million in the three months ended June 30 but it had a $90.9-million profit in the same period a year ago.

Total revenue at all three chains came in at $1.13 billion, a rise from $1.04 billion a year ago, boosted by the acquisition of Popeyes.

Sales increased at Burger King, but declined at Popeyes and Tim Hortons during the quarter compared to last year.

On a related note, Restaurant Brands has announced it will be expanding the Tim Hortons brand to Spain in the near future.

@CanBizJournal

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