Parent Company Burger King Sees A Bright Future Again

Parent Company Burger King Sees A Bright Future Again

Restaurant Brands International (RBI), the parent company of fast-food chain Burger King, among others, sees a bright future despite the corona crisis, the company reports in its half-year figures. For example, global sales grew in the last quarter, pushing the company just above the 2019 level, and people ordered much more via the app than last year.

 

In April, May and June, the company sold more than a third more chicken, coffee, donuts and Whoppers in total. A year ago, the company’s sales fell by more than a third in the same period compared to 2019. As a result, the total sales of the fast-food group amounted to 8.9 billion dollars, compared to 6.5 billion dollars a year ago. This amount also includes franchisees’ sales, self-employed people who operate their own restaurants under the brand names. The restaurants that RBI itself operates accounted for a turnover of 1.4 billion dollars.

Hamburger fast-food chain Burger King fared the best of all brands. In the past three months, the subsidiary sold nearly 40 percent more and accounted for nearly two-thirds of all RBI’s sales. Donut and coffee chain Tim Hortons sold a third more, but chicken fast-food chain Popeyes saw growth slow. That chain sold a tenth more.

According to RBI, the impact of the corona crisis was less severe than in the same period last year. According to the group, many of the company’s restaurants remained in operation for the past six months. As a result, it was no longer possible to dine everywhere, but there was takeout and delivery. RBI previously said this was the company’s rescue. Last year, restaurants had to close completely in some regions.

On average, almost all restaurants of the subsidiaries worldwide were open again in the past quarter. However, certain regions, such as Canada, Europe and Brazil, had announced new lockdowns this year or were subject to limited opening hours due to a curfew. As a result, the parent company expects that local measures will still influence how restaurants can open in the coming time and that the results will be weighed down.

The company also said it would buy back $1 billion in shares over the next two years.

Leave a Reply

Back to top