Has Tim Hortons’ recovery in Canada stalled?

Several initiatives that delivered stronger 2025 sales and outlet growth appeared to run out of steam in the second quarter, but Canada’s largest coffee chain still has options

Ontario-based Tim Hortons began 2026 on the front foot with a return to outlet growth following four successive years of net closures and 5.1% annual revenue growth to $4.2bn.

It also appeared to have momentum on its side with several key projects, including investments in its fast-growing iced beverage category and hot food ranges, as well as plans for hundreds of store refurbishments.

Disappointing second quarter earnings suggest that the recovery has hit its first major speed bump.