Over the past four years, the price of medium-sized coffee has risen by 17%
Since yesterday, it costs more to buy a coffee at Tim Hortons. The price increase is about 5 cents, depending on the type of format purchased.
Over the last four years, the average price of coffee has increased by more than 17% at Tim Hortons.
In November 2014, the same type of coffee format sold for $ 1.60 (tax included) at Tim Hortons stores.
This surprise price increase at Tim Hortons is national and will affect all of its franchised restaurants across the country.
Several customers, met yesterday at the Tim Hortons Lebourgneuf in Quebec, told the Journal that this new rise had a bitter taste.
“He could have warned us at least. Another price increase just before Christmas. It’s very much appreciated by them, “quipped a long-time Tim Hortons customer.
This rise comes as Tim Hortons’ main competitor, the giant McDonald’s, offers coffee in the morning at $ 1.15 (taxes included), all sizes, until the end of November to his clientele. Quebec.
At Tim Hortons, nobody was available yesterday to comment on this new rise in coffee prices in its branches.
At the last price increase for its cafes, in August 2017, Tim Hortons’ parent company, Restaurant Brands, had placed posters in the windows of its restaurants while justifying an increase in its operating costs.
This price rise comes as the world price of coffee is down on the stock markets.
Since a year, the world coffee price is down 13%. Yesterday, the pound of coffee traded at $ 1.08 on the Chicago Stock Exchange.
Despite this increase, the price of an average filter coffee at Tim Hortons ($ 2) remains the most affordable compared to McDonald’s ($ 2.05 normally), at Second Cup ($ 2.58), at Café Van Houtte ($ 2.75) and Starbucks ($ 2.80). Prices may vary by region.
In the most recent quarter, comparable sales by facility grew by only 0.6% at Tim Hortons.
Since mid-July, Tim Hortons has been offering lunches all day at its restaurants.
In the third quarter, revenue from Tim Hortons’ parent restaurant, Restaurant Brands, totaled $ 1.38 billion, up from $ 1.21 billion in the same quarter last year.
Earnings attributable to shareholders of the Oakville, Ontario, company amounted to US $ 133.6 million, or 53 cents US per share, compared to US $ 91.4 million, or US $ 37 cents per share, year earlier.
Restaurant Brands owns Tim Hortons, Burger King and Popeyes Chicken.