Tim Hortons sold a bunch of Timbits during the first quarter. Total revenues topped $766 million, up 4.8% from the same period last year. There was no mention of the glorious new menu items, but the report did note that the company has already doled out $3.1 million for the upcoming launch of the co-branded Double Double Visa card.
Marc Caira, president and CEO of Tim Hortons stated that “We made continued progress in the first quarter as we focused on aspects of our business where we could make an immediate impact, including simplifying our operations, enhancing our restaurants and introducing menu innovations. Our organization has mobilized quickly to begin executing on the strategic plan we announced in February. We will see further progress this year in key areas of our strategic roadmap as we seek to drive sustainable long-term growth.”
23 restaurants in Canada were opened in the first quarter, while the United States saw 11 new beauties opened. In total, Tim Hortons now has 4,524 systemwide restaurants, including 3,610 in Canada, 870 in the United States and 44 in the Gulf Cooperation Council.