Burger King invests another $300 million to remodel restaurants [MSNBC.com]
Restaurant Brands International Inc. Common Shares (QSR)
Last restaurant brands international inc. common shares earnings: 5/1 06:30 am
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Source: MSNBC.com
Burger King will invest another $300 million to remodel about 1,100 of its U.S. restaurants as part of a broader turnaround effort, the chain's parent company said Tuesday.OwnerRestaurant Brands Internationalcomeback strategyIn January, the parent company bought Burger King's largest U.S.franchiseeIncluding the investment announced Tuesday, Restaurant Brands is planning to spend around $2.2 billion to revitalize the chain's U.S. business. The company expects 85% to 90% of its roughly 7,000 U.S. restaurants will have the same modern design by 2028."It was the first time in a long time that RBI had invested a significant amount of capital back into the business to co-invest with franchisees," Burger King U.S. President Tom Curtis told CNBC. "I think the process was, 'Let's see how this works'... and we're seeing early results on remodels."About 100 Burger King locations have been remodeled and updated so far. Those locations have seen sales climb following their facelifts, according to
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QSR
Earnings
- 4/30/24 - Beat
QSR
Sec Filings
- 5/17/24 - Form PX14A6G
- 5/16/24 - Form 8-K
- 5/16/24 - Form 8-K
- QSR's page on the SEC website