Restaurant Brands International inc. says it expects its quick-serve empire to span 40,000 restaurants achieving a collective US$60 billion in sales by 2028. Details from inside Firehouse Subs in Burlington, Ont. on Thursday, January 25, 2024. THE CANADIAN PRESS/Peter Power
TORONTO – Restaurant Brands International Inc. says it expects its quick-serve empire to span 40,000 restaurants and achieve a collective US$60 billion in sales by 2028.
The Tim Hortons, Burger King, Popeyes Louisiana Kitchen and Firehouse Subs owner has about 30,000 restaurants these days and in its most recent financial year saw US$42.8 billion in system-wide sales.
Speaking at an investor day event in New York today, RBI executives said they expect the company’s adjusted operating income to hit $3.2 billion by 2028, up from US$2.2 billion in its last fiscal year.
The company hopes to reach such figures by growing Tim Hortons afternoon and evening sales and remodeling Burger King restaurants to give them a more modern look.
RBI will also work to expand Popeyes menu and drive sales through its digital channels.
With Firehouse Subs, the company wants to expand in the U.S. and Canadian markets to help it reach 800 new locations by 2028.
This report by The Canadian Press was first published Feb. 15, 2024.
Companies in this story: (TSX:QSR)
