TORONTO – More collaborations with pop music star Justin Bieber will come in 2022 at Tim Hortons after last November’s rollout of Timbiebs Timbits donut holes.
“Timbits, which included exclusive merchandise in three delicious Timbits created together with Justin Bieber, was one of the more successful traffic-driving initiatives in recent memory and outperformed our internal expectations,” said José Cil, chief executive officer of Restaurant Brands International, Inc., the parent company of Tim Hortons, in a Feb. 15 earnings call. “We’ve seen early signs of brand loved benefits from this partnership through unprecedented social engagement and increased appeal with younger guests.”
Tim Hortons also launched freshly grilled wraps in October.
“This successful launch built off our established credibility in craveables and helped drive mid-single-digit growth in our lunch and afternoon snack dayparts versus 2019 levels,” Mr. Cil said. “It’s encouraging to see our focus on enhancing food quality and taste translating to strong sales growth with breakfast foods and main foods up a combined 14% versus 2019.”
System-wide sales at Tim Hortons increased 14% to $1.74 billion in the fiscal year ended Dec. 31, 2021. Comparable-store sales growth was 10%.
“In the US, we achieved our best year of restaurant growth since 2016 and signed development agreements to expand to new markets, including Houston, which will open its first store this summer,” Mr. Cil said. “Our new US openings leverage a smaller footprint, faster build times and an optimized menu offering focused on beverages, baked goods and hot breakfast sandwiches, all leading to more compelling unit economics.”
Net income attributable to common shareholders of Toronto-based RBI was $838 million, or $2.71 per share on the common stock, in the fiscal year, which was up 72% from $486 million, or $1.61 per share, in the previous year. Total revenues of $5.74 billion were up 16% from $4.97 billion.
RBI also owns Burger King and Popeyes Louisiana Kitchen and acquired Firehouse Subs on Dec. 15, 2021.
“We’re excited to plug Firehouse Subs into our robust global development network, shifting the brand’s unit growth into high gear in the coming years, and while Firehouse Subs already has a growing digital presence, we see further opportunities to add more guest options and benefits and transport the brand's digital experience across borders,” Mr. Cil said.
