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Restaurant Brands International Inc
Symbol QSR
Shares Issued 323,707,500
Close 2024-12-09 C$ 99.36
Market Cap C$ 32,163,577,200
Recent Sedar Documents

Post/CP say RBI gets into fast-food "value war"

2024-12-10 09:39 ET - In the News

The Financial Post reports in its Tuesday edition that fast-food promotions are taking place across the country, and the phenomenon has intensified into what industry watchers have dubbed a "value war." A Canadian Press dispatch to the Post says they are predicting the battle for your buck is not ending any time soon and may even hit new heights next year. "It's going to be at least the first six months of 2025, when we're going to be seeing elevated promotions, but it's likely going to be the entire 2025," said Danilo Gargiulo, restaurant analyst at Bernstein. Sitting it out the fast-food wars can be dangerous -- a lesson Popeyes Louisiana Kitchen learned when its system-wide sales fell 0.8 per cent and its comparable sales almost 4 per cent last quarter. Joshua Kobza, chief executive officer of Popeyes parent company Restaurant Brands International, blamed the performance on "a more value-sensitive environment this quarter" and the chain "missing some of the offers consumers were looking for." On RBI's earnings call in November, he said Popeyes began working to reverse the trend with three pieces of chicken for $5 in mid-September. That was followed in October with a $6 big box. Both boosted traffic and sales.

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