OAKVILLE, Ont. — Tim Hortons is removing Cold Stone Creamery ice cream from its locations in Canada.
The announcement came as part of the company’s fourth quarter performance results where it was also reported that operating income of $147.8 million was down 1.8 per cent from $150.4 million a year earlier. The company execs are hoping the decision to remove ice-cream operations across its Canadian locations will allow restaurant owners to simplify their operations and focus on their core business.
“During the fourth quarter, we made important strides to position the Company for further success,” said Marc Caira, president and CEO. “We have worked to enhance our capital structure, as well as simplify our operations, strengthen our menu, and refresh our restaurants, all to provide the ultimate guest experience. I believe the choices we are making today and the strategic roadmap we are developing will set the stage for continued long-term growth and profitability.”
De-branding and removing the Cold Stone Creamery concept from Tim Hortons’ locations resulted in the loss of $19.0 million in the fourth quarter.
The move will not affect U.S. Cold Stone Creamery co-branded operations.