Parent company reports sales grew 14 per cent
TORONTO — The CEO of Tim Hortons' parent company says the quick service chain generated sales in its latest quarter above pre-pandemic levels for the first time since the onset of COVID-19, but the business is still being affected by a slower return to offices in regions like Toronto.
Cil's remarks come as restaurant operators and other hospitality businesses are plotting a rebound from the pandemic, which forced many to close their doors, pare back their store counts and face lower sales. They're being met with a slew of new products RBI has released at Tim Hortons like a second collaboration with Justin Bieber that took the form of a French vanilla cold brew called Biebs Brew.
The company, which keeps its books in U.S. dollars, says global system-wide sales were up nearly US$1 billion year-over-year to over US$10 billion, with digital sales growing by double-digits over the same period. Cil has yet to see the near 40-year high inflation level impact consumer habits, but said the company is ready to face economic pressures.
Those actions include providing franchisees with staffing and retention best practices, simplifying back-of-house processes and making training resources easy to follow.
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