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Modest growth for Tim Hortons as store enhancements stabilise sales

Tim Hortons reports revenues of US$298.8m in the three months ending September 30, up from $294.4m during the same period last year. Like-for-like sales grew 0.3% to 0.6% and total outlets increased to 4,805 from 4,680 in 2017 – a 2.2% year-on-year increase

The Canadian coffee shop chain’s modest growth comes nearly six months after owner, Restaurant Brands, initiated its ‘Winning Together’ plan. The initiative, announced in April 2018, sought to improve sales by enhancing customer experience and improving communications with franchisees. Part of the initiative saw the multinational coffee shop chain invest over $700m in refurbishment, rebranding and improving distribution networks for its Canadian store portfolio.

"During the third quarter, together with our franchisees, we continued to improve Tim Hortons comparable sales by executing against our 'Winning Together' plan,” said Daniel Schwartz, Chief Executive Officer of Restaurant Brands International.

“We remain confident that our focus on guest satisfaction and franchisee profitability will drive growth at all three of our brands for many years to come,” he added.

Like international rivals, US-Starbucks Coffee Company and UK chain,Costa Coffee, Tim Hortons has sought significant expansion in China, announcing a plan to open 1,500 stores in the country over a ten-year period in July 2018. All three of the major coffee shop chains have experienced flattening sales in their native markets in 2018 and have launched growth strategies in Asian markets to boost sales. 

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