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Restaurant Brands International Reports First Quarter 2021 Results
Restaurant Brands International Inc. reported financial results for the first quarter ended March 31, 2021.
José E. Cil, Chief Executive Officer of Restaurant Brands International Inc. ("RBI") commented, "Our first quarter results signal our return to growth with system-wide sales surpassing Q1 2019 and net restaurant growth nearly matching our best-ever Q1 performance in 2018. We are excited by the global growth potential of our brands and are encouraged by this early momentum as we work toward a return to historic levels of unit growth this year."
"Our home market recovery from the pandemic is well-underway, including at Tim Hortons in Canada where our business fundamentals have continued to improve as we execute on our Back to Basics plan, which included exciting product launches in Q1 like our new dark roast coffee and...
Tim Hortons Announces Investment to Support its Back to Basics Plan
Tim Hortons announced an C$80M corporate investment in Canada for 2021 to supercharge advertising expenses, highlight menu improvements in product quality and support continued enhancements in the digital guest experience, including the Tims Rewards program.
Tim Hortons recently launched three new quality upgrades to its menu as part of its Back to Basics plan, including a new dark roast coffee, Craveables lunch sandwiches and freshly cracked Canadian eggs in breakfast sandwiches. Part of the corporate investment will support awareness of these launches and...
Restaurant Brands International Reports Full Year and Fourth Quarter 2020 Results
Restaurant Brands International Inc. reported financial results for the full year and fourth quarter ended December 31, 2020.
Jose Cil, Chief Executive Officer of Restaurant Brands International Inc. ("RBI") commented, "We are confident that our efforts in food and beverage quality, restaurant experience, digital leadership and brand building will be beneficial to returning our business to the growth we know we are capable of in all three brands. While we ended 2020 with about the same restaurant count as 2019, we have been working closely with our network of franchisees on...
Britain’s Drive Thru Spend Up 45% September to November 2020
The trend for ordering food and drinks from our cars at Britain’s growing number of drive-thru restaurants soared from September to November 2020 according to global information company The NPD Group. There were 121 million visits to Britain’s 2,000 quick service restaurants (QSR) that offer drive-thru in those three months in 2020, a 14% increase on the same period last year. Spend was up 45% to £723m over this time frame, with consumers tending to place larger-than-average orders at the drive-thru window.
According to footfall analysis from NPD’s SnapMyEats data, the growth in drive-thru in these three months was a result of consumers switching from eating in and takeaway options during lockdowns and tiering, rather than...
Restaurant Brands International Reports Third Quarter 2020 Results
Restaurant Brands International Inc. reported financial results for the third quarter ended September 30, 2020.
Jose Cil, Chief Executive Officer of Restaurant Brands International Inc. ("RBI") commented, "Our results this quarter are once again a testament to the incredibly hard work our team members, restaurant owners and employees have put in to re-open our restaurants and continue serving millions of guests every day. Looking forward, we are very well-positioned to navigate through a wide range of possible scenarios, especially given the strength of our network of drive-thrus and fast-growing delivery channel."
"Despite our continued near-term focus on confronting the challenges presented by this global health crisis, we continue to make progress behind our long-term vision for the business, including modernizing our brands by...
Burger King, Tim Hortons, and Popeyes to Modernize Its Drive Thru Experience
Restaurant Brands International Inc. announced that it is modernizing the drive-thru experience at more than 10,000 Burger King and Tim Hortons locations, with Popeyes beginning its own rollout later this year. More than 40,000 digital screens are being installed with powerful 'predictive selling' technology, integration with restaurant loyalty programs and the ability for remote, contactless payment, reflecting the strategic importance and value of the drive thru experience to RBI's iconic restaurant brands.
"Our guests have sought out our drive-thru lanes for our iconic food and beverages throughout the COVID-19 pandemic – even in the face of mandated dining room closures around the world," said Jose Cil, CEO of RBI. "We believe strongly that it is time to...
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