Canadian doughnut, coffee and sandwich chain Tim Hortons (THI) reported first quarter earnings today of $80.7 million Canadian, or $0.48 Canadian per share, compared to $78.9 million Canadian, or $0.45 Canadian per share. Revenue rose 10.4%, to $643.5 million Canadian.
Same-store sales rose 2% in the company’s native Canada and 4.9% in the U.S. Results missed analyst expectations.
U.S.-based rival Dunkin’ Donuts is planning a public offering following years of private equity ownership, while coffee chain Starbucks (NASDAQ:SBUX), and even McDonald’s (NYSE:MCD) pose more of a threat as they expand into more breakfast food offerings.
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