Tim Hortons Inc.’s first-quarter same-store sales swung to a small increase in both the United States and Canada, leading to a 4.8-percent increase in revenue to $766.4 million Canadian. The Oakville, Ontario-based company’s net income growth accelerated slightly more at 5.5 percent, to $90.9 million Canadian, fueled by a massive share repurchase program that bought back about $1 billion of stock between August 2013 and April 2014.
As of the close of the March 30-ended quarter, Tim Hortons had 4,524 restaurants worldwide, including 3,610 units in Canada, 870 locations in the United States and 44 outlets in the Gulf Cooperation Council.
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