NEW YORK ( TheStreet) -- A roster of restaurant stocks, including Tim Hortons (THI), Brinker International (EAT) and Wendy's Arby's Group (WEN) posted quarterly results Thursday, dishing up a mixed plate of results.
Coffee-and-donut chain Tim Hortons posted
better-than-expected earnings, thanks to strong same-store sales growth in its Canadian stores. Chili's operator
(EAT) missed top- and bottom-line expectations but
forecast 2011 earnings in line with analysts' consensus call. Wendy's Arby's
missed expectations and lowered its 2010 outlook.
Tim Hortons attributed its 21% jump in second-quarter earnings to stronger same-store sales, or sales at stores open at least one year, in its Canadian locations. System-wide comps grew 9.2%. The figure included a 6.4% jump in Canada, compared with an increase of 1.7% in the year-earlier quarter. Same-store sales at its U.S. locations grew 3.1%, down from a 3.3% rise in the second quarter of 2009.
(MCD), which competes with Tim Hortons for market share in the coffee-drinks space and with Wendy's Arby's in the fast food sector, said earlier this week its comps surged 7% in July, fueled in large part by its beverage business. It was the burger-and-fries chain's biggest monthly increase by that measure since April of 2009. double-digit profit gains for the period.
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