Tuesday, February 17, 2015

Tim Hortons Posts Half Billion Loss


A Canadian Press article reports a US$514.2 million fourth quarter loss in spite of revenue increasing from $265.2 million to $416.3 million. The article is not clear on exactly how the parent company, Restaurant Brands International Inc., the company behind Burger King took such a loss, in spite of rising sales.

Some of the losses are attributed to a $143 million loss related to derivatives and another $94.3 million charged to the Tim Hortons deal and restructuring costs. Tim Hortons merged with Burger King last year and during the restructuring approximately 15% of their 2300 employees lost their jobs.

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