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.
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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%.
|QSR||RESTAURANT BRANDS INTERNATIONAL INC.||54.25||-1.25||-2.25%|
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.