Projects put on hold due to the pandemic are gradually coming back into discussions and that's what we'll see in this edition of Fast Delivery, first with the Signé Toqué group! of Montreal but also with the people of Savo, in Sherbrooke. Finally, we will present the financial results of Tim Hortons for the first quarter.
First, Normand Laprise and Christine Lamarche, the founders of Signé Toqué!, plan to return to the business model planned before the pandemic, planning to open three or four Brasseries T! and a production kitchen. The Beau Mont restaurant, a subsidiary of Toqué!, will become a Brasserie T! and two more will open in the coming months.
The pandemic has been particularly difficult for the duo since the restaurant Toqué! was closed for almost two years. Besides Toque! and Beau Mont, the group has a Brasserie T! in Brossard and a Burger T! at the Time Out Market at the Eaton Centre.
However, it is difficult to find employees, because the philosophy of the catering group is to train newcomers who will stay in the group for a long time and few candidates are qualified or have compatible schedules. Lamarche and Laprise recognize that they may have to delay their retirement by ten years to ensure the transmission of their business to their children or employees.
Secondly, Le Savo Café Gelato located at the Marché de la Gare in Sherbrooke will be sold to Nicolas Maire and Eli Vaillancourt in June 2023, the current owners Yann Doyon and Jordan Trifiro-Rodrigue wishing to develop their gelato and sorbet business in several points of sale in Quebec. Savo Café Gelato already has 150 points of sale in Estrie and 600 in total in the province.
The future owners plan to open their restaurant, Ilo, offering a variety of menus year-round, including tartars, burgers and pizzas, as well as signature cocktails and other alcoholic beverages. Customers can continue to enjoy Savo gelatos and sorbets in the restaurant.
The new owners share the values of the Ville de Sherbrooke and want to keep the spirit of the place while making some changes to the terrace. They want to open as soon as possible for the summer season and plan to offer a new concept for the winter inside the restaurant.
Finally, Restaurant Brands International, the parent company of the Tim Hortons restaurant chain, posted a more than 10% increase in sales in the first quarter of 2023 compared to the previous year.
Sales at Tim Hortons were even stronger, with a 15.5% increase for its establishments open for at least a year and a net growth of 5.6% in all of its cafés. The company also saw a 10.3% increase in comparable brand sales and a 4.2% net increase across all of its restaurants.
The company's CEO attributed the growth to improved mobility, a stronger menu, better restaurant operations and better prices. The expansion of Tim Hortons menu beyond coffee and donuts has also contributed to its growth, as has the increase in the number of users of its mobile application.
The company has also seen an increase in customer satisfaction through an acceleration of its drive-thru.
The company's quarterly results beat expectations, with adjusted earnings of 75 cents per share.
