|Bid||97.30 x 0|
|Ask||97.44 x 0|
|Day's Range||96.43 - 98.40|
|52 Week Range||68.34 - 105.93|
|Beta (3Y Monthly)||1.18|
|PE Ratio (TTM)||43.37|
|Earnings Date||Oct 22, 2019 - Oct 28, 2019|
|Forward Dividend & Yield||2.66 (2.79%)|
|1y Target Est||86.31|
The Canadian coffee and doughnut chain confirmed Wednesday that it will be pulling the Beyond Meat Burger and Beyond Meat breakfast sandwiches from its menus in all provinces except Ontario and British Columbia.
Apparently, Beyond Meat burgers don't go that well with Tim Hortons coffee, as the chain says it's dropping the alternative protein products at thousands of Canadian locations, just three months after introducing them.The vegetable-based Beyond Burgers are being taken off menus nationally, while Beyond Meat breakfast sandwiches will be removed from all locations except in B.C. and Ontario, where a "positive reaction" means customers can continue to enjoy them, the company says.The decision isn't surprising given Tim's core expertise at selling coffee and baked goods but it's a black eye for the California-based manufacturer of Beyond Meat, said Sylvain Charlebois, a professor in food distribution and policy at Dalhousie University in Halifax."I see this as bad news for Beyond Meat, absolutely, because it may taint the brand in Canada. Tim Hortons is no small player," he said in an interview.The Tim Hortons' decision, apparently made based on sales volumes, might indicate that Beyond Meat is reaching a saturation level in Canada after being embraced by A&W restaurants and widely offered in retail grocery stores, he said."We are always listening to our guests and testing a wide variety of products across the country," said Jane Almeida, a spokeswoman for Tim's parent Restaurant Brands International Inc., in an email confirming the withdrawal."Like any limited-time offer, we may explore offering the product again in other provinces at a future date based on ongoing guest feedback."The company announced in May it would test its three Beyond Meat breakfast sandwiches at some stores.In June, it said those products would be rolled out in all of its almost 4,000 Tim Hortons restaurants nationwide and, in July, it announced it would offer Beyond Burgers as well.The company made no mention of limited availability at the time.During its second-quarter conference call last month, however, RBI CEO Jose Cil implied the products might not be a permanent addition."We looked at the Beyond Meat burger as well as a kind of limited time offer to see how it would react, and we're encouraged by some of the behaviour there," he said, according to a transcript posted by financial markets data firm Refinitiv."But in the end, we're really a coffee and baked goods business with very strong sandwich offering with soups and other products that are natural to our restaurants and we're going to continue to work on that."Almeida said the Beyond Burger will continue to be offered for a limited time nationally, without being specific, and the breakfast sandwiches while supplies last outside of Ontario and B.C. This report by The Canadian Press was first published Sept. 18, 2019.Companies in this article: (TSX:QSR)Dan Healing, The Canadian PressNote to readers: This is a corrected story. An earlier version suggested the Beyond Burger would continue to be offered in Ontario and B.C.
Why Restaurant Brands International Inc. (TSX:QSR)(NYSE:QSR) is a growth stock that you may miss out on if you didn't heed this Warren Buffett piece of advice.
Restaurant chains are enjoying a great year. Let’s take a close look at Restaurant Brands International (TSX:QSR)(NYSE:QSR) and the shares’ current performance.
TORONTO , Sept. 11, 2019 /CNW/ - Restaurant Brands International Inc. (TSX/NYSE: QSR, TSX: QSP) ("RBI") announced today that the company will participate in the Scotiabank Back to School Conference ...
Restaurant stocks closed lower on Tuesday as the fight to win the morning traffic intensified. Wendy’s will expand its breakfast menu nationwide in 2020.
Readers hoping to buy Restaurant Brands International Inc. (NYSE:QSR) for its dividend will need to make their move...
Restaurant Brands International Inc. (TSX:QSR)(NYSE:QSR) has a plan to keep its growth momentum going, and that's what will keep its stock soaring.
As margins continue to get squeezed in the industry, companies like Restaurant Brands International Inc (TSX:QSR)(NYSE:QSR) may be forced to take more drastic measures to keep costs down.
TORONTO, Sept. 6, 2019 /CNW/ - Restaurant Brands International Inc. ("RBI") (TSX/NYSE: QSR, TSX: QSP), 1011778 B.C. Unlimited Liability Company (the "Issuer") and New Red Finance, Inc. (the "Co-Issuer" and, together with the Issuer, the "Issuers") announced today that the Issuers priced their previously announced offering of $500 million aggregate principal amount of 3.875% First Lien Senior Secured Notes due 2028 (the "2019 Senior Notes") and upsized the offering of the 2019 Senior Notes from an aggregate principal amount of $500 million to $750 million. The 2019 Senior Notes will have a maturity date of January 15, 2028. The close of the 2019 Senior Notes is expected to be completed on or about September 24, 2019.
(Bloomberg) -- There’s been a frenzy over Popeyes’s chicken sandwiches. Now the craze is spilling over to its bonds.Restaurant Brands International Inc., the owner of Popeyes, sold $750 million of debt Friday in an upsized deal at some of the cheapest rates ever for a junk-rated bond, according to people with knowledge of the matter who asked not to be identified because the information is private. The 3.875% yield is the lowest for securities maturing in eight years or more in the U.S. high-yield market since at least 2014, according to data compiled by Bloomberg.“This is a good data point for just how stretched the search for yield is globally,” said John McClain, a high-yield portfolio manager at Diamond Hill Capital Management. “Every stone has been overturned.”The price underscores how hungry investors are to get their hands on higher paying securities, especially ones with BB ratings that carry less risk than the most speculative of junk bonds. Earlier this week another food-related seller, Yum! Brands Inc., priced $800 million of debt in an upsized deal to pay 4.75%. Those bonds are now quoted at about 102 cents on the dollar.Popeyes sold out of its famous chicken sandwich in late August -- just two weeks after its launch -- as crowds descended on its stores, eager to try a menu item that had become a social-media sensation.(Updates bond size and pricing in second paragraph.)\--With assistance from Lisa Lee.To contact the reporters on this story: Sally Bakewell in New York at email@example.com;Gowri Gurumurthy in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Natalie Harrison at email@example.com, Boris Korby, Allan LopezFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
TORONTO , Sept. 6, 2019 /CNW/ - Restaurant Brands International Inc. ("RBI") (TSX/NYSE: QSR, TSX: QSP), 1011778 B .C. Unlimited Liability Company (the "Issuer") and New Red Finance, ...
Bill Ackman’s Pershing Square Holdings netted gains of 3.5% in August, in sharp contrast to the losses posted by the major stock benchmarks in the month.
TORONTO, Sept. 4, 2019 /CNW/ - Restaurant Brands International Inc. ("RBI" or the "Company") (TSX/NYSE: QSR) announced today that an underwritten registered public offering (the "offering") of 16,960,717 common shares commenced by HL1 17 LP, an affiliate of 3G Capital Partners Ltd. ("3G Capital"), had priced. RBI LP intends to satisfy this notice with the delivery of an equal number of common shares (the "Exchange").
The internet has been abuzz for the past two weeks as Popeyes debuted its new chicken sandwich. Will the social media attention propel Restaurant Brands International Inc. (TSX:QSR)(NYSE:QSR) stock?