Burger King/Tim Hortons Q2 earnings call was held at the beginning of this week. Tim’s US reported same store sales of +7% in the recently ended Quarter 2. Check and transactions were not revealed. The 7% is a very good number as it compares to a 6% they recorded last year. On the flip side however, there was zero net US Tim’s development in Q2. They are very clearly moving slowly. They noted US franchisee profitability is improving but did not reveal particulars. The first St. Louis Tim’s unit opened, as a free standing drive thru unit however. The CEO confirmed again that there would be no Tim’s co-branding with US franchisees. By product, they reported a continued favorable effect of dark roast, creamy chocolate chill pastries, and the Steak and Cheese Panini. In other earnings calls, McDonald’s management acknowledged that the US market was difficult as same store sales were reported at -2.0%. They claimed they had reached agreement with US franchisees on the need for more “value”, interestingly in the wake of a franchisee survey (on which SRNS reported last week) showing angst and pressure at all-time highs in McDonald’s US system. Management felt they had lost customers at the “value end of the menu” but that breakfast sales were solid so the breakfast all day was being expanded. The breakfast menu after 11AM however, is a slimmed-down “favs” menu. Elsewhere, Starbucks announced they were expanding their current loyalty program partnerships through an agreement with Lyft, the ride-sharing company. Under the program, Starbucks loyalty program members can earn additional points when they use the ride-sharing app. They have previously entered partnership agreements with Spotify and The New York Times.