Saturday, May 23rd24.0°C
26383
25263

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

26180


Recent Trending




Today's Market
S&P TSX15200.76-2.85
S&P CDNX703.48+2.97
DJIA18232.02-53.72
Nasdaq5089.36-1.43
S&P 5002126.06-4.76
CDN Dollar0.8142-0.0053
Gold1205.70+1.30
Oil57.45-1.98
Lumber273.30+3.70
Natural Gas2.885-0.064

 
Okanagan Companies
Pacific Safety0.13-0.01
Knighthawk0.010.00
QHR Technologies Inc1.48+0.03
Cantex0.03-0.01
Anavex Life Sciences0.425+0.053
Metalex Ventures0.09+0.01
Russel Metals25.79-0.03
Copper Mountain Mining1.38-0.03
Colorado Resources0.105+0.005
ReliaBrand Inc0.0048-0.0049
Sunrise Resources Ltd0.04+0.01
Mission Ready Services0.175-0.010
Decisive Dividend Corporation2.20+0.60

 



26255

FEATURED Property
1619790Loseth Road South
$180,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Do or do not

Photo: Thinkstock.com“The optimist sees the rose and not its thorns; the pessimist stares at the thorns, oblivious of the rose.” - Kahlil Gibran Good planning is all about managing chan...


Penetrate the smokescreen

Photo: ContributedHas this ever happened to you? You’re in the middle of your second or third “good discussion” with a prospect. Everything’s going great. The prospect seems en...


Squaring the circle

Photo: Thinkstock.comI have been reading about market segmentation and choice. Howard Moskowitz’s research into tomato sauce as retold by Malcom Gladwell on the TED talks (http://www.ted.com/tal...

_



25482

26363


Member of BC Press Council


24875