Rishi Sunak wants to cut the cost of ‘sicknote’ Britain 
Gas is good until 2050 and beyond, under Albanese gas strategy 
Why is the London Stock Exchange losing out to the US 
If the RBA’s right, interest rates may not fall for another year. Here’s why. 
BYD Europe Challenges Tesla, EU Giants; Stellantis Defends Italian Turf 
What should you do if you can’t pay your rent or mortgage? 
PepsiCo India Takes Steps to Make Lay’s Chips Healthier to Phase out of Palm Oil 
Reducing energy demand and improving efficiency will help prevent the next gas crisis 
Kakao Thrives Amidst Chinese E-commerce Expansion in Korea 
New EU trade rules could put poor countries in a billion dollar ‘green squeeze’ 
Tesla Cybertruck Warranty Woes: Owner Shocked as Coolant Leak Not Covered After 35 Miles 
Extraordinary Vietnam fraud case exposes the inherent vulnerabilities of banks 
South Korea Backs Naver in Business Rift with Japan Over Line App 
Divesting university endowments: Easier demanded than done 
Ford Revises Europe Strategy, Considers Gas and Hybrid Options Beyond 2030 
Restaurant Brands International (RBI) announced robust second-quarter results on Tuesday, Aug. 8, crediting the impressive sales growth to the revival efforts of its subsidiaries, Burger King and Tim Hortons. Both brands recorded double-digit increases in same-store sales.
Restaurant Brands reported a double-digit increase in same-store sales of both Burger King and Tim Hortons. It was said that the burger joint’s recovery strategy worked and helped RBI beat the business analysts’ low earnings expectations.
The net sales of the Canadian-American fast food holding company surged by 8.3% to $1.78 billion. Its same-store sales increased by 9.6% in the quarter, and the firm acknowledged that the robust sales were driven by the big gains of its Burger King and Tim Hortons segments.
Restaurant Brands International’s chief executive officer, Josh Kobza, further told CNBC that their global markets and Tim Hortons in Canada observed that customer visits in their stores have increased in the second quarter. However, the traffic in U.S. stores for Burger King, Popeyes, and Firehouse Subs was “a little negative,” but this did not affect RBI’s overall sales.
“We showed strength across all our core categories, but also a lot of growth in some of the big target places we’re trying to take the business, like our P.M. food and cold beverages,” the CEO explained.
At any rate, Restaurant Brands’ efforts in reviving its Burger King brand are paying off, as shown in the recent sales. It invested about $10 million in its ad campaign in the United States to get people to visit the restaurants and enjoy the famous Whopper burgers.
In particular, the company launched the “Reclaim the Flame” campaign for BK, which proved to be a success, as shown in the boosted sales results. Reuters further reported that in the second quarter alone, BK put in a total of $12 million for its turnaround plan and as mentioned, $10 million was directed to advertising.
As per CNN Business, the ads were Whopper-specific and helped augment the sales. Now, the company’s next step is to upgrade its restaurants.
“We are going to do really high-quality remodels you should see that becoming an increasingly important part of the equation later this year and into next year,” RBI chief Kobza stated. “We need pretty much every Burger King all across the country to be modern, convenient, and competitive with all of the other concepts out there that have new and modern buildings.”
Photo by: Mike Mozart/Flickr(CC BY 2.0)
