I’m not a numbers buff, but when I see revenues of $802 million in 3 months I know it means some serious green is flowing through those cash register. Tim Hortons announced their Q3 2012 numbers and proudly showed a 10.3% increase over Q3 2011 numbers – meaning a bunch of Timbits were sold. Overall the revenue for the year is now sitting above $2.3 billion and they opened 73 new locations in North American and international markets – 44 in Canada, 22 in the United States and 11 overseas.
An interesting note on the filing as it said that “Same-store sales in our Canadian segment grew by 1.9%” and the “U.S. segment recorded same-store sales growth of 2.3%,” but even with a rise of revenue of 10% they are experiencing a slow down, specifically caused by “continued sluggish economic growth and fragile consumer confidence, leading to constrained discretionary spending. The challenging economic conditions led to an intensified competitive environment, with companies working to reinforce value positioning and increasing promotional activities. We believe the overall macro operating environment, and hotter weather than normal, affected our growth during the quarter.”
Whatever. The food and coffee is amazing. New donuts. New Paninis. All good!