Hortons’ Retreat From New England

No matter how you slice it, Tim Hortons pull-out from Providence, Hartford and some shops in Maine, proves that the investment Dunkin’ Donuts franchise owners have made in these New England markets has paid off.

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Tim Hortons to Buy Back Shares, Close 36 Stores in the Northeast

David Paddon reports at The Globe and Mail that Tim Hortons Inc. will use $400-million from the sale of its half of Maidstone Bakeries to buy back some of its shares on open market, a move that may win investor favour despite some bitter-sweet news announced Wednesday. The iconic Canadian restaurant operator, which has been making inroads into the American market, said it has decided to make a strategic retreat from the Providence, RI., and Hartford, CT., markets in the U.S. Northeast.

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A Timbit of Trouble

570 News in Toronto reports that Tim Horton’s franchise owners have launched a near $2-billion lawsuit claiming lost profits since the iconic Canadian company switched from fresh-baked to frozen donuts. The $1.95-billion suit is scheduled to go to court in November and it has even divided franchisees, as a large group of store owners is trying to stop a smaller group from following through on the lawsuit.

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A Cup Good to the Last Drop-off

Jenn Abelson reports in the Boston Globe that Coffee rivals join forces in quest for perfect green container. For more than four years, Hellyar, supply chain manager for Dunkin’ Donuts, has hunted for an alternative to the much maligned Styrofoam cup — long enough to earn him the nickname “Joey Cups.’’ The ideal container would have to be recyclable or compostable, keep coffee hot, and not cost franchisees too much

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Tim Hortons Sells Interest in Bakery to Partner

Sunny Freeman reports in The Canadian Press that Tim Hortons announced Thursday morning it is selling its 50 per cent interest in Maidstone Bakeries of Brantford, Ont. to joint venture partner Aryzta AG for $475 million after the Swiss company invoked a contract provision forcing Tims to buy or sell the stake. The iconic fast food company, headquartered in Oakville, Ont., will return the $475 million that it will receive from the sale to shareholders, though the company is not yet sure how, its CFO Cynthia Devine said in an interview Thursday.

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A look at the fastest-growing chains

Mark Brandau of Nation’s Restaurant News reports that the annual Technomic Top 500 report found that 2009 was a brutal year for the industry’s largest concepts, with aggregate systemwide sales for the largest chains falling 0.8 percent. Upstarts, however, including Five Guys, Noodles & Company and Potbelly Sandwich Works, were able to post double-digit increases in sales.

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Tim Hortons Plans 900 New Sites By 2013

Judy McKinnon, of Dow Jones Newswires reports that Tim Hortons Inc. (THI) plans to open about 900 locations in North America by 2013, including about 600 in Canada, and is forecasting 2010 earnings of C$1.95-C$2.05 a share, well ahead of the C$1.64 a share it recently reported for 2009.

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