Burger King's parent company falls in the stock market after missing forecasts
Apr 29, 2019
Restaurant Brands International dipped 4% after the company beat expectations for the first quarter as one of its franchises continues to struggle. Excluding the acquisition of Popeyes Louisiana Kitchen, the company earned 55 cents per share, falling short of the 58 cents that analysts had predicted, and although net sales beat estimates, the company was dragged down by the performance of Tim Hortons' during the quarter. While Burger King and Popeyes showed growth, but sales at Tim Hortons' dipped 0.6% despite expectations of a 2% increase. The company claimed that severe weather in Canada hurt the coffee chain's sales by at least 1% and also blamed some products for not fulfilling the company's expectations.