Restaurant Brand Revenues Surpass Burger King Sales Increase Estimates

July 30 (Reuters) – Burger King’s parent company Restaurant Brands International Inc (QSR.TO) topped quarterly revenue estimates on Friday as more customers ate after COVID-19 restrictions eased in Canada and the United States.

Several restaurant chains, including KFC owner Yum Brands (YUM.N) and McDonald’s (MCD.N), have invested in their loyalty programs and launched new menu items to increase sales at a time when dining in restaurants bounce back.

For restaurant brands, same-store sales of Tim Hortons – its biggest revenue generator – jumped 27.6% in the second quarter, while those of Burger King rose 18.2%.

Net income attributable to common shareholders reached $ 259 million, or 84 cents per share, from $ 106 million, or 35 cents per share, a year earlier.

The company’s total revenue reached $ 1.44 billion in the second quarter ended June 30, from $ 1.05 billion a year earlier. IBES data from Refinitiv had estimated revenue of $ 1.37 billion.

Report by Praveen Paramasivam in Bengaluru; edited by Uttaresh.V

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