Tim Hortons revenues rise 10%
Coffee prices to jump in Manitoba, Quebec and the Maritimes
Last Updated: Friday, October 30, 2009 | 6:21 PM AT
CBC News
Related
Internal Links
Tim Hortons Inc. on Friday reported higher third-quarter revenue.
Earnings, however, fell compared to the same period last year.
Revenue, including that from stores owned by franchisees, came in at $563.6 million, up 10.7 per cent, from just under $509 million in the summer of 2008.
The firm's Canadian stores reported the biggest share of the increase: $50 million.
The company said it would introduce new prices for medium and large coffee in some markets. In Manitoba, Quebec and the Maritimes, a medium will cost five cents more, and a large seven cents more.
The company said the Manitoba increases were due to higher operating costs in that province.
U.S. sales increased by $7.8 million, a 25 per cent increase.
Profits fell to $61.2 million, down 22.3 per cent, because of $23.1 million in legal costs associating with converting the company into a Canadian corporation. It had been incorporated in Delaware.
Share Tools
Latest New Brunswick News Headlines
- Armed robbery at Saint John gas bar
- There was an armed robbery at a Saint John, N.B., gas station Friday night. more »
- Cataractes advance to Memorial Cup final by beating Sea Dogs
- Yannick Veilleux broke a tie at 13:14 of the third period as the host Shawinigan Cataractes upset the defending champion Saint John Sea Dogs 7-4 in the semifinal of the Mastercard Memorial Cup on Friday night. more »
- 4 arrests in Elsipogtog drug trafficking case
- Four people are facing charges in connection with a two-month long investigation into prescription drug trafficking on Elsipogtog First Nation. more »
- David Alward worried about EI changes
- Premier David Alward says he's worried proposed changes to employment insurance will hurt seasonal industries in the province, such as fishing, forestry and tourism. more »
Top News Headlines
- Teen struck by lightning in Ottawa dies
- The victim of a Friday lightning strike during a storm in east Ottawa has died, CBC News has learned. more »
- Everest team unable to bring down Toronto woman's body
- Bad weather has hampered the recovery team that is attempting to bring down the body of a Toronto woman who died trying to climb Mt. Everest. more »
- 32 Syrian children die in artillery attack, says UN
- More than 90 people have been killed by regime forces in a district of central Syria, with the head of the UN team in the country confirming at least 32 children and 60 adults were killed the attack. more »
- Woman's remains found in hockey bag on Cape Breton river
- Police in Nova Scotia are investigating after a woman's remains were found in a hockey bag floating on a Cape Breton river Friday night. more »
- 4 arrests in Elsipogtog drug trafficking case
- Armed robbery at Saint John gas bar
- David Alward worried about EI changes
- Woman robs store in Tracadie-Sheila
- Loose dog prevents mail delivery to area residents
- Pension snafu may erode public trust, says Norton
- Main Street reopened to traffic
- Pharmacists get generic drug pricing 'transition period'
- Bathurst teen charged with attempted murder
