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Feb, 17 2018

Burger King's Parent Company Restaurant Brands Posts Sales Growth

At Restaurant Brands' coffee and doughnut chain Tim Hortons, sales rose 0.1 percent as it launched a new order-ahead app and it started selling pricier espresso drinks.

Restaurant Brands International has seen a jump in the sale after its Burger King chain reported booming sales growth credited to value meals and new food items such as a bacon burger added to its menu.

A total of 4.6% rise in sales was registered in the most recent quarter at established Burger King Restaurants as the value meals and new items were popular with consumers. Value menus have become increasingly important to fast-food companies looking to boost sales; earlier this year, McDonald's revived the name of its once-popular Dollar Menu with items costing $1, $2 or $3.

At Restaurant Brands' coffee and doughnut chain Tim Hortons, sales rose 0.1 percent as it launched a new order-ahead app and it started selling pricier espresso drinks.

At Popeyes, which Restaurant Brands bought for $1.8 billion last year, sales slipped 1.3% at established restaurants during the last three months of the year.

Restaurant Brands CEO Daniel Schwartz said the company plans to expand the brand by opening more of the fried chicken restaurants around the world.

Burger King, its biggest chain, had nearly 16,800 locations at the end of last year. Tim Hortons had nearly 4,800 and Popeyes had about 2,900.

The company reported adjusted earnings of 66 cents per share for the three months ending Dec. 31, which was above what analysts expected, according to Zacks Investment Research. The Oakville, Ontario-based company said revenue rose 11% to $1.23 billion.

Shares of Restaurant Brands International Inc. jumped $3.84, or 6.8%, to $60.35 in trading Monday.

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