OAKVILLE, Ont. — Restaurant Brands International Inc. announced a plan to improve customer experience and improve sales at its Tim Hortons operations as it reported better-than-expected financial results, despite what it called soft results at the coffee shop chain.<\/p>\n
Details of the plan were not immediately available, but chief executive Daniel Schwartz says he believed the “Winning Together” plan would help improve profitability for the company’s restaurant owners.<\/p>\n
Restaurant Brands has been feuding with a group of its Tim Hortons franchisee owners over a number of items including cost-cutting measures, cash register outages and a $700-million renovation plan to spruce up its restaurants.<\/p>\n
The company, which keeps its books in U.S. dollars, earned US$147.8 million or 59 cents per diluted share for the quarter ended March 31. That compared with a profit of $50.2 million or 21 cents per diluted share a year ago. Revenue totalled $1.25 billion, up from $1 billion in the same quarter last year.<\/p>\n
On an adjusted basis, Restaurant Brands, which also owns Burger King and Popeyes, says it earned 66 cents per share for the quarter, up from 36 cents per share a year ago.<\/p>\n
Analysts on average had expected a profit of 56 cents per share, according to Thomson Reuters.<\/p>\n
Companies in this story: (TSX:QSR)<\/p>\n","protected":false},"excerpt":{"rendered":"
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