Tuesday, September 16th24.4°C
23373
20950

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

22655


Recent Trending




Today's Market
S&P TSX15510.54+27.98
S&P CDNX975.70-5.80
DJIA17131.97100.83
Nasdaq4552.759+33.856
S&P 5001998.98+14.85
CDN Dollar0.9110-0.0004
Gold1235.40-1.2999
Oil94.74-0.14
Lumber349.00+1.00
Natural Gas4.056-0.007

 
Okanagan Companies
Pacific Safety0.175-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.30+0.01
Cantex0.06-0.01
Anavex Life Sciences0.250.00
Metalex Ventures0.06-0.005
Russel Metals35.95-0.22
Copper Mountain Mining2.69-0.01
Colorado Resources0.16+0.005
ReliaBrand Inc0.027+0.003
Sunrise Resources Ltd0.02-0.005
Mission Ready Services0.30+0.035

 



23021

FEATURED Property
20652712048 Moonbeam Close
3 bedrooms 3 baths
$454,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Power-save your way to a down payment

Part 1 of 2 Photo: Thinkstock.com1. Move in with your parents or in-laws Explain that you're thinking strategically in moving back home. The quickest way to get into the housing market is to ma...


Price Guarantees

Article written by Linda Bustos Though I’d never recommend “lowest prices” as a unique selling proposition, I notice many retailers use a Price Match Guarantee or even a 110% Guara...


Brangelina and Celebrity vs Philanthropy

This week my wife wrote a blog for our charities website, I thought you may enjoy reading it here: I was planning to write about the incredible philanthropic Miss Angelina when, funnily enough, she ...

_



23109




Member of BC Press Council


23422