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☆ Burger King drags sales at parent Restaurant Brands as spending softens
▼ + stars: | 2023-11-03 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

[1/2] The Burger King company logo stands on a sign outside a restaurant in Bretigny-sur-Orge, near Paris, France, July 30, 2020. REUTERS/Benoit Tessier Acquire Licensing RightsNov 3 (Reuters) - Restaurant Brands International (QSR.TO) missed market estimates for quarterly sales on Friday as lingering inflation pinched spending at its Burger King chain, eclipsing higher demand for Tim Hortons coffees and Popeyes chicken wings. Shares of the Canada-based company fell 4%, as executives said Burger King would increase advertising and store investments under an ongoing turnaround plan, setting it up for higher costs in the current quarter. Burger King has "made a lot of progress ... but there's still a very long way from where we are to where we want to be. Total revenue at Restaurant Brands rose to $1.84 billion, but missed estimates of $1.87 billion.

Persons: Benoit Tessier, Tim Hortons, Burger, Sante Faustini III, Burger King, Josh Kobza, Footfall, there's, Kobza, Deborah Sophia, Devika Organizations: Burger King, REUTERS, Brands, Reuters, Restaurant Brands, Thomson Locations: Bretigny, Paris, France, Canada, U.S, Burger, Bengaluru

☆ Burger King weakness drives sales miss at parent Restaurant Brands
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +2 min

[1/2] The Burger King company logo stands on a sign outside a restaurant in Bretigny-sur-Orge, near Paris, France, July 30, 2020. REUTERS/Benoit Tessier Acquire Licensing RightsNov 3 (Reuters) - Restaurant Brands International (QSR.TO) missed market estimates for quarterly sales on Friday as still-high inflation pressured consumer spending at its Burger King chain, signaling that the brand's turnaround efforts were falling short. The weak sales come despite Burger King executing a $400 million turnaround plan by streamlining menus, targeting younger consumers through better advertising and improving restaurant technology. Total same-store sales at the Burger King division rose 7.2% in the third quarter, missing estimates of 8.71%, according to LSEG IBES data. Toronto, Canada-based Restaurant Brands posted an adjusted profit of 90 cents per share, beating estimates of 86 cents.

Persons: Benoit Tessier, McDonald's, Burger, Wells Fargo, Tim Hortons, Deborah Sophia, Devika Organizations: Burger King, REUTERS, Brands, U.S ., Burger King's, Thomson Locations: Bretigny, Paris, France, U.S, Burger, Burger King's U.S, Canada, Toronto, Bengaluru

☆ More Burger King locations could soon look like this
▼ + stars: | 2023-10-10 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +4 min

Customers entering Burger King locations will “start to see something different in 2024,” said Tom Curtis, president of Burger King US & Canada. Burger King Company LLCThe new concepts feature digital ordering kiosks, plenty of Whopper branding, and streamlined drive-thru and pickup lanes. Burger King Company LLCNow, it seems, Burger King is trying to push ahead. Globally, including in the US, sales at Burger King restaurants open at least a year grew 10.2%. Burger King Company LLC“We are still not in positive territory,” when it comes to traffic, said Josh Kobza, CEO of Burger King parent company Restaurant Brands International, during an analyst call in August.

Persons: New York CNN — Burger, ”, Tom Curtis, Burger, Curtis, “ we’re, ” Curtis, Burger King, “, It’s, Josh Kobza, ” Kobza Organizations: New, New York CNN, Burger King, Burger King US, Canada, Burger, Burger King Company, Grill, Restaurant Brands, “, CNN Locations: New York, Burger, New Jersey, Las Vegas, North Carolina, Grill Burger, Burger King

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