Hospitality Business News: Tim Hortons

Showing posts with label Tim Hortons. Show all posts

Monday, February 7, 2011

Tim Hortons to expand in Middle East

Image via WikipediaOAKVILLE, ON, Feb 04, 2011 (Hospitality Business News) -- Tim Hortons (TSX: THI, NYSE: THI) today announced the next steps in its international development and has signed a Master License Agreement (MLA) with Apparel Group based in Dubai for up to 120 multi-format restaurants in markets in the Gulf Cooperation Council (GCC).

This announcement follows a comprehensive assessment and due diligence process. Based on success in our initial market entry in the GCC region, our international growth strategy is designed to then evaluate potential additional regional market entries following the first few years of international development.

"Our top strategic priority is continuing to grow our Canadian and U.S. businesses which are the primary drivers of shareholder value. We also believe there is an opportunity over the long-term to explore international opportunities and seed the Tim Hortons brand in various markets outside of North America.

Our approach is prudent, targeted and will minimize capital requirements while still allowing us to pursue identified international growth opportunities," said Don Schroeder, president and CEO, Tim Hortons.
The MLA with Apparel Group for up to 120 restaurants includes both standard and non-traditional units.

Locations will be developed and operated by Apparel in the GCC markets of United Arab Emirates, Qatar, Bahrain, Kuwait and Oman. In 2011, Apparel Group is committed to developing and operating five restaurants. The agreement with Apparel is typical of international MLA models, based primarily on a royalty model, and Apparel will leverage their deep local market knowledge and real estate capability to build and operate the new locations.

"The GCC is an attractive market that provides significant opportunity. Our due diligence has identified the GCC as an international development opportunity for the Tim Hortons brand based on our Always Fresh premium coffee and baked goods offering, value positioning and friendly, efficient in-store experience," said Schroeder. "Our partners at Apparel have considerable knowledge of the local markets and consumer expectations and have introduced world-leading brands to the GCC."

Apparel Group operates over 50 leading international brands and runs more than 600 stores in 14 countries. Apparel Group-operated brands include Tommy Hilfiger, Kenneth Cole, Aldo, Aeropostale, Ninewest, and Cold Stone Creamery.

Friday, November 12, 2010

Tim Hortons Inc. announces strong 2010 third quarter operating performance

Highlights

    -   Strength of underlying operations reflected in continued sales and
        revenue momentum in Canada and the U.S.
    -   Same-store sales up 4.3% in Canada and 3.3% in the U.S.
    -   Total revenues up 9.8%
    -   Management to focus on its core growth markets in the Northeast and
        Midwest U.S.; Company takes $20.9 million asset impairment charge and
        will close its locations in two markets in the New England region
    -   Approximately $400 million in after-tax cash proceeds from sale of
        interest in Maidstone Bakeries planned to be deployed to repurchase
        shares and $30 million committed with the intent of helping
        franchisees to mitigate anticipated rising operating costs

Read More:

Sunday, November 7, 2010

How Tim Hortons is playing to win in America

Arcade Fire is the baddest band in the land, Justin Bieber has entranced America's teen girls and Tim Hortons Inc. (38.33-0.13-0.34%) is the second-fastest-growing restaurant chain in America.
Tim Hortons' David Clanachan can take credit for only one portion of this Canadian incursion, but his company's growth in the U.S. is almost Bieberian in its intensity and efficiency. Clanachan was named Tim Hortons' chief operations officer, U.S. and international, in May 2008. By last year, food-industry analyst firm Technomic named Tim Hortons and its now 600 U.S. doughnuts-and-more locations the second-fastest-growing chain in the U.S., behind only Washington, D.C.-based East Coast burger empire Five Guys.

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Sunday, August 15, 2010

Tim Hortons Inc. Announces 2010 Second Quarter Results:

Quarterly Highlights
 Significant sales growth in Canada and strong performance in the U.S.
o Systemwide sales(2) grew 9.2% on a constant currency basis
o 6.4% increase in same-store sales in Canada
o 3.1% increase in same-store sales in the U.S.
 Strong consolidated operating income gain of 16.1% with solid contributions from both
Canadian and U.S. segments
 EPS growth of 25.2% in second quarter

Read More:

Thursday, April 1, 2010

Tim Hortons - Its Ok To Fire A Customer

Tim Hortons is defending a New Brunswick store owner's decision to ban a customer for life after he complained about decaf coffee he said tasted "burnt."

After customer Jimmy Craig complained three times to workers at a Tim Hortons in St. Andrews, N.B., owner Edwin Dow banned him from ever entering the store again. Craig, a paramedic, was also banned from the store in nearby St. Stephen.

Read more:

Friday, March 5, 2010

Tim Hortons lays out aggressive growth plans

Tim Hortons Inc.outlined its growth plans — which include 900 new North American locations over the next three years — at its investor conference today.

The Tim Hortons strategic plan targets investments and opportunities designed to leverage its core business strengths and business model to drive future growth

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Thursday, February 25, 2010

Tim Hortons Inc. Announces 2009 Fourth Quarter and Year-End Results

• Strong fourth quarter sales performance in both Canada and the United States, with a 3.4% same-store sales increase in Canada and 2.1% growth in the U.S.
• U.S. segment achieves $4.8 million operating income for full-year compared to breakeven target
• The Company’s Board has approved an increase in the target dividend payout range to 30% to 35% of prior year, normalized annual net earnings, and approved a 30% increase in the quarterly dividend to $0.13 per share
• New $200 million share repurchase program announced

Read more:

Tuesday, February 23, 2010

Tim Hortons bets on Michigan expansion

As Starbucks Corp. shutters stores in Michigan -- seven closed last year and 11 more are on the chopping block -- Canada's Tim Hortons Inc. is moving in to serve coffee-drinkers left in the lurch.

Tim Hortons has 125 stores in Michigan, including 93 in Metro Detroit, and plans to open more here, though officials wouldn't disclose details of the expansion plan. The company also has stores in Flint, Saginaw and Lansing. It employs about 2,000 workers in the state.

Read more:

Friday, October 30, 2009

Tim Hortons Inc. Announces 2009 Third Quarter Results

Highlights
•Same-store sales increased 3.1% in Canada and 4.3% in the U.S.
•Quarterly results incorporate costs and discrete tax item impacts arising from the Canadian public company reorganization
•Operating income increased 5.4% to $129.2 million
•Adjusted operating income(1), which excludes impact of the public company reorganization, was up 8.0%

Link to Financial Statements

Read more:

Thursday, August 6, 2009

Tim Hortons Inc. Announces 2009 Second Quarter Results

Highlights ----------
- Second quarter systemwide sales(3) increased 5.0% on a constant currency basis
- 25 new locations opened in second quarter, 15 in Canada and 10 in the U.S.
- Annual operating income, excluding proposed public company reorganization costs, and same-store sales growth, expected to be in line with previously announced 2009 targets
- The $2.7 million (slightly more than $0.01 per share) in costs associated with the proposed public company reorganization impacted operating income in the quarter
- Solid improvement in U.S. segment results in second quarter
- Board declares quarterly dividend of $0.10 per share

Read more:
http://www.timhortons.com/ca/en/about/news.html?c=195616&p=irol-news&nyo=0

Saturday, July 25, 2009

Canadian doughnut chain enters NYC doughnut wars

For a sip of hot chocolate and his preferred pastry fix, the 32-year-old Manhattan lawyer has driven 100 miles (160 kilometers) to Meriden, Connecticut, to what was then the closest Tim Hortons, a beloved Canadian chain that sells coffee and baked goods.
Abella, a Toronto native, now has an easier time satisfying his cravings. Earlier this month, Tim Hortons opened its first New York City locations, replacing 11 Dunkin' Donuts in Manhattan and Brooklyn.

Read more:
http://finance.yahoo.com/news/Canadian-doughnut-chain-apf-3983613882.html?x=0&.v=4

Thursday, July 9, 2009

13 NYC Dunkin’ stores switch to Tim Hortons

NEW YORK (July 8, 2009) The Riese Organization, a longtime multi-concept franchisee in New York City, is converting all 13 of its Dunkin’ Donuts stores to the Tim Hortons brand, president and chief executive Dennis Riese said Wednesday.
Riese said he plans to close the Dunkin’ locations on Friday and reopen the stores July 13 under the Tim Hortons banner. Riese and Dunkin’ had come to an agreement about five years ago that required the termination of a franchise partnership by July 31.

Read more:
http://www.nrn.com/breakingNews.aspx?id=369534&menu_id=1368

Wednesday, July 1, 2009

Wendy's Can Learn a Few Lessons from Yum Brands

In looking at the June 29, 2009, Barron’s “puff-piece” article on Wendy/Arby’s Group (WEN) and its upward price movement Monday, I was reminded that one of the company's projected growth platforms, other than increasing number of US stores, improving margins at Wendy’s and improving R&D (Wendy’s breakfast was pulled until 2010) was international growth, via franchising and multi-brand development.

Read more:
http://seekingalpha.com/article/146381-wendy-s-can-learn-a-few-lessons-from-yum-brands?source=feed

Canadian coffee giant set to open in Big Apple

After a 25-year battle to make inroads in the biggest fast-food market in the world, Tim Hortons Inc. is set to open up a new U. S. front in August when it takes its double-doubles into the heart of New York City's coffee wars.
The iconic Canadian coffee-and-doughnut chain plans to have three stores up and running in the Big Apple, including a location in Times Square -- its first foray into Manhattan -- the Financial Post has learned.

Read more:
http://www.financialpost.com/story.html?id=1745219