Tim Hortons same\u002Dstore sales grew 11.1 per cent in Canada thanks to price increases. Find out more.
RBI chief executive José Cil told analysts that inflationary pressures in the supply chain, along with risingFinancial Post Top Stories
Tim Hortons’ same-store sales — a common metric in retail to gauge year-over-year performance by ignoring results from recently opened or closed locations — grew 11.1 per cent in Canada. The results were “aided by strategic price increases,” Cil said on the call.Article content “Any price changes that our guests have seen at Tim Hortons are in line with our top competitors in the restaurant industry,” RBI chief corporate officer Duncan Fulton said. “We carefully look in the mirror whenever we adjust prices, to make sure that we’re competitive in the region that you live in, and we continue to give you great value for money.”Article contentRBI wouldn’t say how much the price increases contributed to sales growth.
The chain, with more than 5,400 locations worldwide, limped through the pandemic, mostly because morning commuters — a key customer base for coffee shops — all but disappeared after public-health restrictions forced most office workers to work from home.Article contentDuncan Fulton
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