Restaurant Brands' Popeyes sales surge; Tim Hortons misses estimates
Comparable sales at Popeyes surged 26.2% due to chicken sandwich demand
Restaurant Brands International (QSR) said on Friday comparable sales at its Popeyes fast-food chain surged 26.2%, surpassing Wall Street expectations, powered by demand for its popular chicken sandwiches.
Popeyes fast-food chain surged 26.2 percent fueled by its chicken sandwich demand.
Still, the company’s quarterly total revenue fell 3% to $1.23 billion for the first quarter ended March 31, as stay-at-home orders due to the COVID-19 pandemic dented sales of breakfast and coffee at Tim Hortons chains, where comparable sales fell 10.3%.
CHICK-FIL-A LAUNCHES MEAL KITS AS MORE PEOPLE COOK AT HOME
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| QSR | RESTAURANT BRANDS INTERNATIONAL INC. | 73.19 | -0.41 | -0.56% |
Analysts were expecting comparable sales rise of 17.47% for Popeyes and a fall of 9.24% for Tim Hortons, according to IBES data from Refinitiv.