Industry News | July 5, 2006

Tim Hortons Sees Second-Quarter Sales Increases Above Expectations

Bookmark/Share this post with:
Email this story Email this story
Printer-friendly versionPrinter-friendly version

Read More About

Tim Hortons Inc. today announced preliminary same-store sales increases of 6.0 percent to 6.1 percent at restaurants in Canada and 8.1 percent to 8.3 perent at restaurants in the United States for the second quarter, which ended on Sunday, July 2, 2006.

"We are extremely pleased to see our strong 2006 sales momentum continue during the second quarter in both Canada and the U.S., especially against solid 2005 performance," said Chief Executive Officer and President Paul House. "Both our second-quarter and year-to-date results are above our expectations of 4.0 to 5.0 percent in Canada and 6.0 percent to 7.0 perent in the United States."

In April Tim Hortonspromoted its new caramel-themed baked goods, including caramel-chocolate donuts, caramel apple fritters, caramel streusel cakes, and caramel turnovers. In May the company promoted iced cappuccino with "flavour shots" of butter caramel, French vanilla, hazelnut, or raspberry. These flavour shots can also be added to other beverages. Through May and June, Tim Hortons introduced a new chunky chicken salad wrap, and later in June promoted strawberry-themed desserts, featuring a strawberry tart.

On "Camp Day," June 7, the Company and its store owners raised C$7.2 million (US$6.5 million) through coffee sales and donations for the Tim Horton Children's Foundation. This exceeded last year's total of C$6.4 million. Due in large part to the funds raised on Camp Day, more than 11,000 deserving children from Canada and the U.S. will attend one of six Children's Foundation camps this year--all expenses paid.