Tim Hortons reported its Q3 results and once again they sold a boatload of Timbits. Revenues topped $909 million, up 10.2% over last year ($825.4 million). Some of the impact was directly caused by “gains in average cheque resulting from pricing and favourable product mix” and “menu innovations including,” such as the Spicy Crispy Chicken Sandwich and its new Dark Roast coffee.
“We have strong momentum in our business, supported by early stage execution of our strategic plan. We are pleased with our ongoing growth and evolution which we believe is positioning our brand for long-term success,” said Marc Caira, president and CEO. “With our strategic transaction announced in August, we can build on our momentum and have the opportunity to participate in the creation of a global powerhouse in the quick service restaurant sector. We expect Tim Hortons to significantly expand its reach as a strong, independent brand within the new company.”
Tim Hortons opened 10 restaurants in the U.S. in the third quarter, six restaurants were opened in the Gulf Cooperation Council, and 41 restaurants in Canada.