Tim Hortons to pare back in New England

Chain to close 36 units, will focus U.S. growth in Northeast and Midwest

Tim Hortons Inc. will shutter 36 underperforming restaurants in New England to focus its U.S. growth on the Northeast and Midwest.

The decision led to a $20.9 million asset impairment charge in the third quarter, which swung the U.S. division to an operating loss of $17.5 million, the company said. Same-store sales in the United States, where Tim Hortons has more than 600 restaurants, rose 3.3 percent in the third quarter, down from the year-ago trend of a 4.3-percent i

Register to view the full article

Register to view this article

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish