Tim Hortons and Burger merged together into a $12.5 billion baby called Restaurant Brands International. The latest financial results recorded a net loss of $8.1 million (USD), which equals to $0.04 per share.
While the merger created a massive global fast food chain, Tim Hortons suffered and shed 350 employees from its roster. However, the report indicated sales in the were “primarily a result of our continued daypart expansion, combo penetration, and recent product launches such as Dark Roast coffee and the Crispy Chicken Club Sandwich.”
53 net new Tim Hortons restaurants opened in the quarter and total Revenues hit $682.4 million, which actually declined 1.2% compared to the prior year.
Daniel Schwartz, CEO of Restaurant Brands International, said, “We are off to a strong start in 2015, having achieved one of our best quarters of comparable sales growth in years for both of our iconic brands, Tim Hortons and Burger King. We continue to execute on brand-specific strategies across marketing, operations and development. We have established a solid foundation in our first full quarter as RBI and will look to build on this momentum throughout the rest of the year.”
Bring on more Nutella products.