The Financial Post reports in its Saturday edition that the owner of the Tim Hortons and Burger King chains said it expects its fast-food empire to span 40,000 restaurants and to achieve a collective $60-billion (U.S.) in sales by 2028. A Canadian press dispatch to the Post says that Restaurant Brands International, which also owns Popeyes Louisiana Kitchen and Firehouse Subs, currently has about 30,000 restaurants, and in its most recent financial year saw $42.8-billion (U.S.) in sales. Speaking in New York on Thursday, chief executive officer Josh Kobza said the company sees a path to deliver 5-per-cent net restaurant growth and 8-per-cent system-wide sales growth within the next five years. For Tim Hortons, RBI will focus on increasing afternoon and evening sales through wraps, bowls, savory pastries, snack foods and other new products. RBI shares closed Friday at $104.11, up $1.73 on the Toronto Stock Exchange.
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