Bitcoin sets a new all-time high above $6,000 >>> READ MORE

Tim Hortons New Menu Pays Off for THI Stock

The Canadian coffee chain exceeded analysts' expectations


Tim Hortons (THI) posted impressive second-quarter results that sent THI stock soaring.

Tim HortonsThe Canadian coffee chain’s quarterly earnings report saw revenue rise 9.3% to C$874.3 million. This figure is exceeded the consensus estimate of C$843 million and is up from C$800 million posted in the year-ago quarter.

Tim Hortons second-quarter success can be attributed to the introduction of new menu items in Canada and the U.S. The Crispy Chicken Sandwich was introduced in Canada, helping same-store sales grow 2.6% and system-wide sales grow 5.8% for the quarter.

The coffee chain’s US stores grew 5.9% in same-store sales and 12.3% in system-wide sales thanks in part to the introduction of the Frozen Hot Chocolate. Tim Hortons plans on opening 25 stores in the US over the next decade.

THI stock is up about 7% Wednesday afternoon.

More Restaurant Stock News:

Article printed from InvestorPlace Media,

©2017 InvestorPlace Media, LLC