Restaurant Manufacturers Worldwide (QSR), the corporate behind Burger King, Popeyes, Tim Hortons and Firehouse Subs, additionally failed to fulfill Wall Avenue expectations. The corporate posted adjusted earnings per share of 93 cents, versus an estimate of 95 cents, and income of $2.29 billion, slightly below the $2.31 billion goal.
General, same-store gross sales rose simply 0.3%, whereas Burger King, Popeyes and Firehouse Subs suffered home declines. Burger King’s U.S. same-store gross sales fell 0.7%, underscoring its uphill battle for a turnaround. Popeyes fell 4% domestically regardless of including boneless wings in June, whereas Firehouse Subs reported a stunning 4.8% decline.
Tim Hortons emerged because the standout, with Canadian same-store gross sales growing 2.3%. Whereas Tim Hortons affords a vibrant spot, Restaurant Manufacturers’ future depends upon reviving Burger King and Firehouse Subs to assist development.