On Tuesday, higher pricing and traffic at Burger King and Tim Hortons helped Restaurant Brands International Inc (QSR.TO) outperform Wall Street projections for quarterly revenue.
McDonald’s Corp (MCD.N) and Chipotle Mexican Grill Inc (CMG.N) also reported better-than-expected quarterly sales last month after raising menu pricing to offset rising raw material and labor expenses.
Burger King’s “Whopper Whopper” jingle has attracted younger consumers. It’s $400 million “Reclaim the Flame” sales drive is also underway.
Tim Hortons’ quarterly comparable sales rose 13.8%, while Burger King’s rose 10.8% in March.
First-quarter revenue grew to $1.59 billion from $1.45 billion. Refinitiv IBES data showed analysts forecasted $1.56 billion in sales.
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