UK Markets closed
  • NIKKEI 225

    23,331.94
    -86.57 (-0.37%)
     
  • HANG SENG

    24,586.60
    -122.20 (-0.49%)
     
  • CRUDE OIL

    36.23
    -1.16 (-3.10%)
     
  • GOLD FUTURES

    1,868.60
    -10.60 (-0.56%)
     
  • DOW

    26,728.96
    +209.01 (+0.79%)
     
  • BTC-GBP

    10,530.84
    +402.88 (+3.98%)
     
  • CMC Crypto 200

    266.97
    +24.29 (+10.01%)
     
  • Nasdaq

    11,201.42
    +196.55 (+1.79%)
     
  • ^FTAS

    3,152.13
    -3.12 (-0.10%)
     

Tim Hortons sales expected to drop 13.7% in Canada

Alicja Siekierska
·1-min read

The parent company of Tim Hortons expects quarterly comparable sales to fall 13.7 per cent in Canada, even as most of its restaurants have reopened to the public.

Restaurant Brands International (QSR), which operates the Tim Hortons, Burger King and Popeyes chains, released preliminary third quarter highlights on Wednesday.

Comparable sales at Tim Hortons again lagged Burger King’s, which has also seen sales decline, and Popeyes, which has experienced remarkable growth thanks in part to its wildly popular chicken sandwich.

Tim Hortons sales in Canada marked the biggest decline for RBI in the three month period ending Sept. 30. Globally, comparable sales at the coffee chain fell 12.5 per cent in the quarter, a decline from last year’s drop of 1.4 per cent.

However, this marks an improvement from the previous quarter, when comparable sales at Tim Hortons fell 30 per cent in Canada and 29 per cent globally.

Burger King’s worldwide sales fell 7 per cent in the quarter, while Popeyes reported an increase of 17.4 per cent.

RBI said 96 per cent of its restaurants were opened by the end of September.

Tim Hortons has struggled in the wake of the coronavirus pandemic, which has impacted breakfast demand and disrupted morning routines as many people continue to work from home.

The company has seen delivery demand across its chain grow, as more restaurants partnered with third-party delivery services such as Skip the Dishes and Uber Eats.

Alicja Siekierska is a senior reporter at Yahoo Finance Canada. Follow her on Twitter @alicjawithaj.

Download the Yahoo Finance app, available for Apple and Android.