Anta Sports Expands Global Footprint With Strategic Puma Stake 
Oil Prices Slip as U.S.-Iran Talks Ease Middle East Tensions 
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
Taiwan Says Moving 40% of Semiconductor Production to the U.S. Is Impossible 
Australian Household Spending Dips in December as RBA Tightens Policy 
Asian Markets Surge as Japan Election, Fed Rate Cut Bets, and Tech Rally Lift Global Sentiment 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Trump’s Inflation Claims Clash With Voters’ Cost-of-Living Reality 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
UK Starting Salaries See Strongest Growth in 18 Months as Hiring Sentiment Improves 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
Tim Hortons, Burger King, and Wendy’s owner, Restaurant Brands International, said on Tuesday, Feb. 14, that it has recorded strong sales in the fourth quarter. As per CNBC, the Canada-based fast-food holding company also missed on earnings but slightly only.
Moreover, compared to business analysts’ predictions, Restaurant Brands International was able to beat the revenue expectations. The firm that operates some leading fast-food chains including Burger King, Wendy’s and Tim Hortons is now heading to its new fiscal year and reportedly preparing to speed up the pace of its growth for the next five to 10 years.
"We rounded out an exciting 2022 with another strong quarter, including nearly 8% consolidated comparable sales and 4% net restaurant growth, reflecting the strength of four iconic, global brands,” RBI’s chief executive officer, José Cil, said in a press release for the company’s full-year and fourth quarter 2022 results report.
He added, "We are focused on being guest-led in everything we do, setting our franchisees up for long-term success and as a result, setting ourselves, and our shareholders, up for long-term value creation. I'd like to thank our employees, franchisees, and team members for all their hard work and dedication throughout 2022."
In any case, aside from the financial report, RBI also announced that CEO José Cil is set to step down and will be replaced by Joshua Kobza who is currently serving the firm as chief operating officer. He will be taking over the chief role starting March 1. Then again, Cil will be staying with RBI for a year as an advisor. He is expected to help the company with the transition during that period.
"The Board of Directors has worked with management to build a thoughtful succession plan for key positions, so this is a natural transition for Josh to lead our next phase of growth,” RBI board chairman, Patrick Doyle, stated. "On behalf of the Board of Directors, I want to thank José for his unwavering dedication and passion for growing our restaurant brands and for the progress we have made, most recently evidenced by our latest quarterly results.”
Photo by: Danny Ouimet/Unsplash
