Tim Hortons announces Spain expansion amidst falling sales
Sales have fallen for the second-consecutive quarter, but Restaurant Brands International is still holding out hope for the international market
Tim Hortons is putting its faith in the international quick-service market as its Canadian sales continue to drop.
The franchise’s parent company Restaurant Brands International (RBI) announced in August it would be expanding into Spain via a joint-venture deal. The announcement was preceded by the brand’s 2017 second-quarter sales results. The report revealed a 0.8 per cent decrease in year-over-year sales, falling for a second consecutive quarter.
RBI has not disclosed its partner in the Spain deal.
"Our partner has the right combination of market expertise and QSR experience to help drive growth for the Tim Hortons brand in the Spanish market," said Lucas Muniz, regional president of Tim Hortons, International. "Spain is an attractive growth market that is well suited to the unique offerings available at Tim Hortons including our high-quality coffee and fresh food at great value."
Tim Hortons has already announced plans to expand international in Mexico, Britain and the Philippines.
RBI also owns quick-service brands Popeyes and Burger King. The company’s total revenues totaled $1.13 billion, up from 1.04 billion a year ago, thanks in large part to RBI’s $1.8-billion acquisition of Popeye’s earlier this year.
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