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· Burger King’s U.S. same-store sales are flat as fast-food customers return to restaurants
· Burger King sales rebound as states reopen after COVID-19 lockdown
Burger King’s U.S. same-store sales are flat as fast-food customers return to restaurants
Burger King’s U.S. same-store sales are trending flat.
Popeyes same-store sales have risen by the very high 20s.
Canadian coffee chain Tim Hortons saw same-store sales declines in the negative high teens as of last week.
Amelia Lucas, CNBC
Jun 29 2020
Burger King’s U.S. same-store sales are trending flat as customers return to its locations for Whoppers and french fries.
The Restaurant Brands International chain saw its same-store sales plunge by the mid-30s in March as the coronavirus pandemic led consumers to stay home and cook. But now, even with many of its North American dining rooms closed or offering only reduced seating, Burger King is seeing customers come back and order through its drive-thru lanes. It also recently launched nationwide a meatless breakfast sandwich made with the Impossible Sausage.
The burger chain’s sales trend echoes those of the broader fast-food segment, which has been quicker to recover from the pandemic than the overall restaurant industry. Fast-food chains’ transactions fell just 13% in the week ended June 7 compared with the year-ago period, according to the NPD Group.
Burger King’s sister chain, Popeyes, has seen its soaring same-store sales growth recede slightly. In the third week of May, its U.S. same-store sales increased by more than 40%. But as the chain starts the lap its strongest results of the prior year before the national launch of its popular chicken sandwich, U.S. same-store sales rose by just the “very high 20s” last week. In mid-June, Popeyes began testing the sandwich in Canada.
Canadian coffee chain Tim Hortons, the third chain in Restaurant Brands’ portfolio, saw same-store sales declines in the negative high teens as of last week. In the third full week of May, its same-store sales shrank by mid-20s. About 90% of its locations are open in Canada.
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Burger King sales rebound as states reopen after COVID-19 lockdown
Brian Sozzi, Yahoo Finance
June 29, 2020
Life after quarantine for many people apparently consists of a Burger King Whopper, fries and soda handed out by someone wearing gloves at the drive-thru on the return back from a reopened office.
Restaurant Brands CEO Jose Cil said in an open letter on Monday sales have rallied back at its Burger King brand as states reopen after COVID-19 lockdowns. Burger King’s North America same-store sales as of last week were trending “flat” after being down by mid-30% in mid-March. Nearly all Burger King restaurants in North America are now open, mostly for drive-thru service.
Meanwhile, Restaurant Brands’ (QSR) Popeyes brand has continued its unworldly growth during the pandemic thanks to its popular fried chicken sandwich. U.S. same store sales are trending up by a high 20%, Cil said. The chicken sandwich has done so well Cil noted a test of it began at Popeye’s Canadian locations in mid-June. Speaking of Canada, the coffee and donut chain Tim Horton’s has climbed back out of mid-40% sales slump seen in mid-March to being down high-teens as of last week. But sales for the brand continues to be constrained by their positioning inside closed malls and sports complexes.
The sales update comes as Restaurant Brands winds down on the second quarter this week. Cil added the company has repaid the $1 billion it tapped from its credit revolver in late March at the height of COVID-19 uncertainty. And, he disclosed a commitment to ensure that at least half of all final round candidates interviewing at company headquarters qualify as diverse, including race.
Recovery mode ...
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