Restaurant Brands International reported first-quarter revenue of $1.74-billion. Analysts on average expected $1.69-billion, according to LSEG data
beat Wall Street expectations for quarterly revenue on Tuesday, driven by strong demand at its Tim Horton and Burger King chains.
Quick service restaurants have turned focus towards offering better promotions and deals on their menu items as consumers increasingly opt for value-oriented meals in the face of sticky inflation. Data from Placer.ai showed that foot traffic at Burger King chains in the U.S. stayed positive in the first quarter, defying a weaker trend in January due to colder weather.Separately, the company said it would invest an additional $300-million towards its plan to modernize Burger King outlets in the U.S., and will provide cash incentives to top performing restaurant operators and support outlet rebuilds and remodels.
The company reported first-quarter revenue of $1.74-billion. Analysts on average expected $1.69-billion, according to LSEG data. The company reported quarterly same-store sales growth of 4.6 per cent, compared with market estimates of growth of 3.78 per cent.Study and track financial data on any traded entity: click to open the full quote page. Data updated as of
Company Demand Revenue Growth United States Inflation Focus Tim Horton Burger King LSEG
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