Tim Hortons Recovery Will Take Time, but RBI Offers Compelling Growth and Capital Allocation Story
Burger King's continued momentum and Popeyes' improving trends offer some positive highlights from narrow-moat Restaurant Brands' first-quarter update, but weakness at Tim Hortons is garnering most of the headlines. Negatively affected by increased coffee promotional activity in its core regions and media reports about friction with franchisees over cost-cutting measures, advertising fund uses, and capital responsibilities for the previously announced CAD 700 million chain reimaging plan, Tim Ho...Restaurant Brands International is a holding company. Through its subsidiaries, Co. is engaged as a quick service restaurant (QSR) company with over 20,000 restaurants in approximately 100 countries and U.S. territories as of Dec 31 2016. Co.'s Tim Hortons® and Burger King® brands have similar franchise business models with complementary daypart mixes. Tim Hortons restaurants are QSRs with a menu that includes coffee, tea, espresso-based hot and cold drinks, baked goods, including donuts, Timbits®, bagels, sandwiches, soups and more. Burger King restaurants are QSRs that feature flame-grilled hamburgers, chicken and other sandwiches, french fries, soft drinks and other food items.
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