Restaurant Brands' U.S-listed shares rose about 2% in premarket trade. Data from Placer.ai showed that foot traffic at Burger King chains in the United...
FILE PHOTO: The company logo for Restaurant Brands International is displayed on a screen on the floor at the NYSE in New York - Restaurant Brands International beat Wall Street expectations for quarterly results on Tuesday, driven by a revival in demand at its Burger King outlets as well as continued strength at the Tim Hortons chain.
Separately, the company said it would invest an additional $300 million towards modernizing Burger King outlets in the U.S., and will provide cash incentives to top performing restaurant operators and support outlet rebuilds and remodels. The results come in contrast to rival McDonald's, which missed expectations for first-quarter sales, as price hikes over the last year from the fast food giant dampened demand from budget-conscious consumers.
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