Miscellaneous

Restaurant Brands International, Inc. held a Q4 earnings call this week, and Tim Horton’s revealed surprisingly strong US same store sales – +3.6% for the quarter and +4.9% on the year – stronger than Dunkin’ and close to that of Starbucks, albeit on a very small geographic base. RBI does not break out ticket and…

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Competitor News

Starbucks reported their year-end results yesterday. The Americas Starbucks same store sales was plus 6%, with a plus 5% ticket and a plus 1% on traffic. The ticket/traffic measure was a bit distorted due to changes in Loyalty program POS procedures. The US AUV was approximately $1.6M and a store EBITDA margin of 27%. They…

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Competitor News

Notwithstanding significant past struggles with going international, an agreement with investors to develop Tim Hortons stores in the Philippines was announced last week.  Now owned by Burger King parent Restaurant Brands International, the company is looking to replicate the successful Burger King international growth model for the Canadian coffee and donut chain.  Tim’s also reported their…

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Competitor News

Earlier this year, Wendys acknowledged that the POS system used by many of its franchisees had been breached, subsequently estimating in May that approximately 300 stores were affected.  This week, the company acknowledged that the actual number of stores with malware infecting their POS system could be “considerably higher”.  McDonalds has announced that it will…

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Competitor News

Cutting new ground, Starbucks issued the first ever US Corporate Sustainability Bond earlier this week.  The $500 million bond offering, issued via 10-year 2.45 percent senior notes, is being used to ensure that the company’s coffee purchases are grown in an environmentally and socially sustainable way. Speaking of environmental issues, Tim Hortons announced that it…

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Competitor News

Chipotle Mexican Grill also held its earnings call yesterday and reported comparable sales through the first quarter were down almost a full 30% from Q1 of 2015, while revenues came in over 23% lower at $834.5 million.  The drop stems from the double health scandals the company encountered with both norovirus and E. coli outbreaks…

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Competitor News

Bloomberg news reported yesterday on an internal survey of franchisees by McDonalds of its franchisees that showed only 14% of their franchisees were optimistic about how the company is doing and the likely success of the company’s turnaround effort.  In fairness, the survey was conducted before the most recent earnings report.  Elsewhere around the competition,…

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Competitor News

Tim Horton’s, the Canadian coffee and donut franchise, has rather unceremoniously vacated parts of the state of Maine and areas of upstate New York.  The brand closed 6 stores in Portland without any advance notice and another sixteen in the Syracuse area of New York.  Tim’s has long tried to expand their reach into the…

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Competitor News

Last week gave us some important competitor earnings calls along with some decent intel as well.  First, Tim Horton’s noted good comp sales, +8.2% in the system and +4.3% in the US. While there was very low visibility provided, Tim’s noted the rollout of breakfast and lunch wraps.  The biggest news was the announcement of…

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Competitor News

Restaurant Brands International, parent company of Burger King and Tim Horton’s, has announced an agreement with Seven Invest anointing the latter as the exclusive area representative for Tim Hortons in Cincinnati.  Under the agreement, Seven Invest is charged with responsibility for managing the Cincinnati market and sourcing third-party franchisees for more than 150 new Tim…

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