Restaurant Brands International Inc reported its financial results for the first quarter ended March 31, 2017.
Comparable sales growth for the company's brands (Tim Horton's, Burger King, and Popeyes Louisiana Kitchen) was relatively flat during the three months ended March 31, 2017, including an impact of approximately (1%) due to a leap day in the prior-year period.
Meanwhile net restaurant growth at Tim Horton's and Burger King show an acceleration of new restaurant development around the world, contributing to a system-wide sales growth of 3.3% for Tim Horton's and 6.2% for Burger King for the three months ended March 31, 2017.
Daniel Schwartz, Chief Executive Officer of Restaurant Brands International Inc. commented, "This quarter, we are excited to have completed our acquisition of Popeyes, an iconic brand with a rich Louisiana heritage. We also continued to grow our Tim Hortons and Burger King brands, increasing system-wide sales despite relatively flat comparable sales growth, through continued net restaurant growth around the world."
"We remain confident in our strategies to accelerate comparable sales growth and to grow franchisee profitability for each of our three brands for years to come."
Photo credit: Burger King UK Facebook page
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