Restaurant Brands International Inc., the parent company of Tim Hortons, has reported significant traffic growth in its Canadian restaurants despite the challenges posed by the pandemic. However, the company missed analyst estimates for quarterly sales. While analysts expected US$1.87 billion in total revenue for the quarter, RBI only earned US$1.84 billion. The company also saw a decrease in profit compared to the same quarter last year. Despite these challenges, Tim Hortons remains optimistic about its business. The company’s executives are not concerned about the impact of weight-loss drugs on sales or other economic factors such as high interest rates and inflation. They believe that there has been a strong post-pandemic recovery in Canada, with customers returning to Tim Hortons for new menu items and faster drive-thru service. The company’s executives also remain confident in their digital and operational transformations, despite potential cost increases. Investors, however, are concerned about Burger King’s performance and the leftover budget for reviving the brand.
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