By Heather Haddon WSJ Vipal Monga WSJ Wed., May 15, 2019 Burger King parent Restaurant Brands International Inc. is under pressure from investors to show it has a plan to boost sales at its restaurant chains. The company, which is backed by 3G Capital and also owns Tim Hortons and Popeyes Louisiana Kitchen, boosted profit over several years by cutting costs and expanding into new markets. Shareholders benefited from a 20% compounded increase in the company’s share price over the past three years, to some 89.37 Canadian dollars at the close of trading on Tuesday in Toronto. Now, Burger King and Popeyes have lost some momentum. Burger King is closing underperforming restaurants as same-store sales growth has cooled. Popeyes has posted falling or flat same-store sales in the past three quarters. Tim Hortons, Canada’s most popular coffee chain and the biggest of those businesses by revenue, is also in trouble. The company fought with franchisees in Canada as Restaurant Brands cut costs. The resulting negative publicity hurt the brand’s reputation, which fell in rankings in a 2018 survey by the Reputation Institute. With little innovation, tried-and-true promotions that once drove traffic grew stale. Comparable same-store sales fell in its latest… Read full this story
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