Restaurant Brands sees Q1 profit rise but warns of broader industry sales slump [Financial Post (Toronto, Ontario, Canada)]
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: Financial Post
TORONTO — As Tim Hortons and Burger King's parent company saw its profit rise 18 per cent in its latest quarter, its chief executive noticed a broader trend taking hold across the industry: slowing sales. Restaurant Brands International Inc.'s Joshua Kobza says consumers have become “a bit more sensitive to price,” pressuring the fast-food sector, even though inflation is easing. Article content Article content The shift in behaviour has left fast-food chains looking to drive more traffic to their restaurants and convince customers to drop a bit more money on every order, but Kobza tempered expectations around how far the Toronto-based company will go to counter some of the price sensitivity. “We know value is also top of mind, and while there are a few tactical things we can do on the margin, you should not expect us to reinvent the wheel on value,” he told analysts on a Tuesday call. Tim Hortons' approach to value has long rested in its focus on pricing menu items lower
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