Monday, December 22nd5.9°C
24624
23088

Tim Hortons serves up profits

Tim Hortons boosted its profits in the third quarter, helped by improved sales, but the company also faced a decline in the number of customers at its restaurants.

The coffee, doughnut and fast food chain, which has been grappling with higher competition from its competitors, said third-quarter net income attributable to shareholders was $105.7 million or 68 cents per diluted share.

That was up from $103.6 million or 65 cents per diluted share in the same year-earlier period.

Total revenues increased 10.3 per cent in the three months to Sept. 30 to come in at $802 million, up from $726.9 million.

"We continue to execute on our strategic priorities and deliver top line growth and earnings performance despite continued challenging conditions in the marketplace," said Paul House, executive chairman, president and CEO, in a release.

The company, which doesn't provide specific traffic numbers, said same-store sales transactions were lower in both the U.S. and Canada.

Tim Hortons has launched a wider array of lunch options and specialty drinks in an effort to keep coffee fans coming through their doors after the morning rush, but the response has been mixed at best.

Tim Hortons shares (TSX:THI) fell 3.6 per cent, or $1.78, to $47.73 in Thursday afternoon trading.

The Canadian Press


Read more Business News

24588


Recent Trending




Today's Market
S&P TSX14447.19-21.069
S&P CDNX672.16-4.38
DJIA17901.0096.20
Nasdaq4765.684+0.304
S&P 5002070.47-0.18
CDN Dollar0.8589-0.0028
Gold1189.40-6.50
Oil56.50+2.39
Lumber337.70-0.30
Natural Gas3.169-0.295

 
Okanagan Companies
Pacific Safety0.125+0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.21-0.04
Cantex0.03-0.005
Anavex Life Sciences0.1712-0.0014
Metalex Ventures0.05-0.005
Russel Metals25.17-0.41
Copper Mountain Mining1.57+0.02
Colorado Resources0.11-0.01
ReliaBrand Inc0.011-0.0089
Sunrise Resources Ltd0.02-0.03
Mission Ready Services0.23+0.015

 
23744




FEATURED Property
21485126360 Farmers Drive
3 bedrooms 3 baths
$829,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


First-time homebuyer mistakes

If you’re on the hunt for your first home and want to have a smooth and successful home purchasing experience avoid these common first-time homebuying mistakes.If you are looking for your first ...


My final thoughts on real estate

This will be the last column I write on real estate. Largely because at the end of the year I will be handing in my license. After 20+ years of working in land development, resort development and rea...


Reflecting on the end of the year

The importance of the end of the year and the Christmas holidays is profound. It is a time to reconnect with family and traditions that have made us who we are. But the year-end has always been a time...

_



24586

24586


Member of BC Press Council


23860