Tim Hortons' Canadian same-store sales rise 1.8% in third quarter

Tim Hortons, the coffee-and-doughnut chain owned by Restaurant Brands International, is growing more slowly in Canada. BNN Bloomberg reported that same-store sales, which compare sales at restaurants open in both periods, rose 1.8% in the third quarter, against 4.2% a year earlier.

Restaurant Brands said cold beverage sales at Tim Hortons in Canada climbed nearly 5% in the quarter. Chief executive Josh Kobza said cold drinks bring younger customers who visit more in the afternoon and spend a bit more per cheque.

Tim Hortons also faced pressure from cost-of-living worries, with higher gasoline prices affecting some customer behaviour.

Tim Hortons says it is on track to open 80 restaurants and renovate 400 in Canada this year. A holiday collaboration tied to the movie Elf starts in November; the products were not disclosed.

Sources: BNN Bloomberg