TIM HORTONS $60.17 (Toronto symbol THI; TSINetwork Rating: Average) (905-845-6511; www.timhortons.com; Shares outstanding: 134.3 million; Market cap: $8.1 billion; Dividend yield: 2.1%) operates 3,610 coffee-anddonut shops in Canada, 870 in the U.S. and 44 in the Persian Gulf.
In the quarter ended March 30, 2014, sales rose 4.8%, to $766.4 million from $731.5 million a year ago. The gain was mainly because the company opened 23 outlets in Canada and 11 in the U.S. Samestore sales rose 1.6% at its Canadian locations and 1.9% in the U.S.
Earnings rose 5.5%, to $90.9 million from $86.2 million. In the past nine months, the company has repurchased $1 billion worth of shares. As a result, its earnings per share jumped 17.9%, to $0.66 from $0.56.
Tim Hortons raised its quarterly dividend by 23.1% with the March 2014 payment, to $0.32 from $0.26. The stock yields 2.1%.
The company recently announced that it would open 800 new outlets (500 in Canada and 300 in the U.S.) over the next five years. Franchisees will build and operate these locations, which cuts Tim Hortons’ risk. In addition, it plans to simplify its menu and speed up checkout times, which should encourage more repeat visits.
Tim Hortons has successfully grown its iconic brand for many years, but its new wave of innovation and expansion bodes well for its future prospects.
For example, it recently teamed up with CIBC to launch a new Double Double Visa loyalty credit card. This new Visa card has two buttons, one red and one blue. Users press the blue button when paying for purchases, and get 1% of the total in “Tim Cash“ rewards points. They press the red button on the card to pay by redeeming points.
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