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As of October 1, 2006, 98 percent of the company's stores in Canada--and 80 percent of the stores in the U.S.--were franchised.
"Tim Hortons had a strong finish to 2006 with solid sales growth in both Canada and the U.S. in the fourth quarter," said Chief Executive Officer and President Paul House. "Our customers continue to respond positively to the value, convenience and variety offered by Tim Hortons and we are pleased that this has translated into positive sales growth throughout the year."
In the fourth quarter, the company introduced its breakfast sandwich in Canada, promoted its chili and garlic toast combo in both Canada and the U.S., and featured its holiday merchandise program in the month of December. Also featured in the quarter were a Pumpkin Spice Glazed Donut, Danish Fruit Bites and a Chocolate Raspberry Donut.
Tim Hortons will release its fourth-quarter and 2006 year end financial results on Wednesday, February 7 prior to markets opening. A conference call on the results will begin at 8:30 a.m. (Eastern). Investors and the public may participate in the conference call by: The dial-in number is (416) 641-6675. No access code is required. A replay of the call will be available until midnight, February 14 and can be accessed at (416) 626-4100. The reservation number for the replay call is 21315855.
A simultaneous web cast will be available at www.timhortons-invest.com. The call will also be archived at that site.