Restaurant Brands International saw its sales increase last quarter, but profits fell short of expectations. The group, known for brands such as Burger King and Tim Hortons, nevertheless continues to invest in growth.
Rising costs
Burger King achieved a 4 % increase in comparable sales, which was mainly due to higher footfall in North America. Popeyes, which specialises in fried chicken dishes, also made progress thanks to new menu items. Coffee chain Tim Hortons remained stable.
Restaurant Brands International’s total sales came to 1.82 billion dollars (1.7 billion euros), up slightly from the same period last year. Earnings per share just about halved, as costs rose and currency fluctuations had a negative effect.
Nevertheless, the company remains ambitious and plans to open new branches, particularly outside North America. CEO Josh Kobza remains committed to digitisation. The company targets comparable sales growth of at least 3% from 2024 to 2028. Meanwhile, McDonald’s today reported sales growth of 3.8 % and even profit growth of 7.4 % after several weaker quarters.
