The Oakville-based company announced its Q4 and full-year 2013 results today and declared Q4 revenues of $898.5 million, which is a 10.7% increase over the same period last year, plus $3.255 billion for the full year 2013 (up 4.3% over last year). Certainly a good start for Timmies new CEO Marc Caira.
While many were projecting a decline in sales, Tim Hortons forged ahead and dominated in both Canada and the United states with “same-store sales growth,” up 1.1% in Canada and 1.8% in the United States. Must have been those new 35% larger Hash Browns, or maybe the Red Velvet muffin.
Marc Caira stated “During the fourth quarter, we made important strides to position the Company for further success. We have worked to enhance our capital structure, as well as simplify our operations, strengthen our menu, and refresh our restaurants, all to provide the ultimate guest experience. I believe the choices we are making today and the strategic roadmap we are developing will set the stage for continued long-term growth and profitability.”
Tim Hortons will also be laying out their game plan for the next 5-year on February 25th.