Sales at Tim Hortons tumbled in 2019, down more than US$150 million compared to the previous year, the coffee chain’s parent company Restaurant Brands International Inc. reported on Monday.
RBI chief executive Jose Cil said the “performance did not reflect the incredible power of our brand.”
“It is clear that we have a large opportunity to refocus on our founding values and what has made us famous with our guests over the years,” Cil said in a news release.
The chain’s plan for 2020 is to slow the surge of menu experiments, which have ranged from a failed Beyond Meat burger to omelette bites. In an interview with the Financial Post last month, RBI acknowledged that the constant menu additions in 2019 complicated its kitchen operations and slowed down service times. Tim Hortons now will focus on remastering its basics: coffee, baked goods and breakfast, RBI said.
In its fourth quarter, Tims comparable sales — a common gauge for success in retail — fell by 4.3 per cent across the chain. Comparable sales were worse in Canada, down 4.6 per cent. System-wide sales were US$1.68 billion, down from US$1.73 billion.
In the 2019 fiscal year, Tim Hortons sales fell to US$6.72 billion, from US$6.87 billion in 2018.
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