Restaurant Brands International (QSR), the company behind Burger King, Popeyes, Tim Hortons, and Firehouse Subs, also fell short of Wall Street’s expectations. The company posted 93 cents in adjusted EPS against a 95-cent estimate, and revenue of $2.29 billion, just below the $2.31 billion target.
Overall, same-store sales rose just 0.3% as Burger King, Popeyes, and Firehouse Subs struggled with domestic declines. Burger King’s U.S. same-store sales fell 0.7%, highlighting the uphill battle for its turnaround. Popeyes dropped 4% domestically, despite adding boneless wings in June, while Firehouse Subs reported a surprising 4.8% decline.
Tim Hortons emerged as a standout, with Canadian same-store sales up 2.3%. Though Tim Hortons offers a silver lining, Restaurant Brands’ future hinges on reinvigorating…
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