SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Australia’s December Trade Surplus Expands but Falls Short of Expectations 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
U.S. Stock Futures Edge Higher as Tech Rout Deepens on AI Concerns and Earnings 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
South Korea’s Weak Won Struggles as Retail Investors Pour Money Into U.S. Stocks 
Nvidia Nears $20 Billion OpenAI Investment as AI Funding Race Intensifies 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination 
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns 
AMD Shares Slide Despite Earnings Beat as Cautious Revenue Outlook Weighs on Stock 
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
Burger King and Tim Hortons reportedly helped their parent company, Restaurant Brands International Inc. beat estimates after posting high sales. RBI said during its quarterly earnings and revenue report on Tuesday, May 2, that it has surpassed analysts’ expectations thanks to the double-digit sales growth at the mentioned two restaurant chains.
The same-store sales growth at Burger King and Tim Hortons allowed RBI to top Wall Street’s estimates for the first-quarter earnings results. With the strong sales from the burger joint and Canadian coffee store chain, Restaurant Brand’s same-store sales increased by 10.3% in Q1.
For Burger King, its same-store sales record showed a 12.3% increase which is a contrast to the estimates from StreetAccount, which was only 6.8%. In the United States, the Whopper burger store’s same-store sales also grew by 8.7%, and business observers said this is an early indication that its turnaround plans and efforts in the country are working.
Burger King launched its new promo campaigns, including a new jingle that has gone viral on social media. These are part of the brand’s turnaround strategy to improve its franchisees’ profitability.
“This is one of the best results we have had in a really long time,” RBI’s chief executive officer, Josh Kobza, told CNBC. He also told analysts that “Given these results, moderating cost inflation and our investment behind the brand, coupled with strong operating leverage at the restaurant level, we are feeling increasingly positive about BK’s path forward this year and into the future.”
On the other hand, Tim Hortons’ same-store sales rose by 13.8%, beating StreetAccount estimates as well, which was only 10.1%. In the coffee chain store’s Canadian home market, the sales growth was 15.5%.
Reuters further reported that while Burger King’s two major franchisees have struggled in the U.S., it continues to add new restaurants and its sales overseas are growing steadily. In fact, for this year, BK is said to be in the quest for additional franchisees, although it still expects to shut down between 300 to 400 stores.
Photo by: Ismail Hadine/Unsplash
