Burger King logo (Photo : Reuters)
Burger King's parent company Restaurant Brands International Inc. reported excellent sales growth. It credited the higher sales to the new items on its menu on Feb. 17, Tuesday.
Owning over 19,000 restaurants in 100 nations, Restaurant Brands reported revenue of $416.3 million for the last quarter of 2014.
Since the Ontario-based company was first listed on the Toronto Stock Exchange last December, its shares have jumped over 40 percent. On Feb. 17, Tuesday it skyrocketed another 10.5 percent to C$53.14.
The company's executives credit the stocks' rise to new menu items such as Tim Horn's dark roastblend coffee, and Burger King's A1 ultimate bacon cheeseburger.
It is ironic that in 2014 the company opened almost 900 near restaurants, and experienced huge losses in a merger, due to costs related to it.
In August 2014, Burger King USA purchased Tim Hortons for $10.21 billion. This event formed the third-biggest fast food restaurant group in the world.
The Restaurant Brands CEO has noted that for the first time the company now has more international locations than U.S. locations, according to ABC News.
Restaurant Brands has no plans to merge the properties or menus of the two chains. It will also continue to have separate management teams.
After the merger, Tim Hortons eliminated about 350 corporate jobs. This was to restructuring in the organization. However, its executives have no intentions to cut more jobs, according to Reuters.
Investors in the merger are eager to see if Tim Hortons' reign in Canada's coffee market can earn a larger share in Mcdonalds' reign in the quick-serve breakfast business.
Tim Horton's sales increased during the fourth quarter of 2014. It rose 4.1 percent during that period.
