OAKVILLE, Ont. — Tim Hortons has logged a strong third quarter.The chain’s net income rose 40 per cent in the third quarter, ended Oct. 2, reaching $103.6 million versus $73.8 last year. Meanwhile, same-store sales increased 4.7 per cent in Canada and 6.3 per cent in the U.S.
“Operating conditions in North America continued to be challenging, and the strength of our sales performance is a great testament to our strong price-value brand position with our guests,” said Paul House, executive chairman, president and CEO. “We continued to innovate in the third quarter and execute our strategic growth plans to build our business.
The third quarter also saw 64 new restaurant openings in Canada and the U.S.