|
Tim Horton's reported a solid gain in third quarter earnings today. The quick service restaurant said profits rose to $103.6 million Canadian, or $0.65 Canadian per share, from $81.7 million Canadian, or $0.42 per share, in last year's third quarter. Results beat analyst estimates. Revenue rose 8%, to $727 million Canadian, on same-store sales growth of 6.3% in the US and 4.7% in Canada. At the same time that Tim Horton's
(nyse:
THI -
news
-
people
) has been beefing up its espresso and savory offerings, it has faced increased competition from rivals like McDonald's
(nyse:
MCD -
news
-
people
) , which has been increasing its breakfast options. Tim Horton's also competes with traditional coffee and pastry restaurants like Dunkin Brands' Dunkin Donuts and Starbucks
(nasdaq:
SBUX -
news
-
people
) .
Market News Video produces and distributes online videos about stocks and investing.
|