Restaurant Brands' Popeyes sales surge; Tim Hortons misses estimates
Comparable sales at Popeyes surged 26.2% due to chicken sandwich demand
Restaurant Brands International CEO Jose Cil discusses how some of its franchises like Burger King is giving back to the public during the coronavirus and how they plan to brave the storm.
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. | 70.90 | +0.56 | +0.80% |
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.