In the fourth quarter of 2024, Tim Hortons experienced over 6% growth in cold drink sales, attributed to unusually warm winter temperatures in Canada. CEO Joshua Kobza noted that the weather impacted consumer preferences, boosting cold beverage sales while leading to weaker hot drink and baked goods performance. This shift is part of a broader trend, with Canada experiencing its warmest winter since 1948 due to climate change factors. Overall, Restaurant Brands International reported positive comparable sales growth, highlighting Tim Hortons' role in navigating changing market conditions.
"Warmer than average Q4 temperatures contributed to over 6% growth in cold beverages," said CEO Joshua Kobza, noting that warmer weather drives cold drink sales.
Tim Hortons' baked goods performance took a hit too, as such products are usually purchased with hot beverages, showing a shift in consumer preferences due to weather.
The December to February winter period in 2023 and 2024 was the warmest winter Canada has experienced since 1948, reflecting ongoing climate changes.
Restaurant Brands International reported a comparable sales growth of 2.5% in its latest quarter, with Tim Hortons contributing to this increase even in a challenging environment.
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