Thanks for Visiting!

Register for free to get the full story.

Sign Up
Already have a account? Log In

The Key for RBI

Ethan Chernofsky
February 10, 2020
The Key for RBI

Even on the back of an incredibly strong Q3 for Popeyes and Burger King, parent company Restaurant Brands International suffered due to the struggles of Tim Horton’s. With Q4 earnings on the horizon, we dove into the performance of all three brands to see whether RBI can see strong results across its portfolio.

Popeyes Continues to Dominate

Yes, the Chicken Wars peak was insane and impressive, but even more important may be the even greater heights the brand achieved with the return of the chicken sandwich in Q4. The relaunch of the sandwich in November actually surpassed the initial, social media crazed launch giving a huge boost to Q4.

Taking the period from January 2018 through December 2019, November and December visits in late 2019 dramatically surpassed anything the brand had seen. November visits were 114.8% above the baseline, far beyond the 46.6% number set in August’s launch, while December visits matched August’s mark exactly. While that is impressive in its own right, the year-over-year growth is even more staggering. 2018 visits for November and December were 17.5% and 12.1% below the baseline for the period putting these new 2019 heights into even better context.

Comparing all of 2018 visits to 2019, the brand saw an increase of 26.8% from a craze that was primarily focused on just three months. What’s incredibly impressive is that the brand went from a social craze to a sustained force that has managed to find another level of success. Should this power maintain deeper into 2020, Popeyes may become an even more significant QSR powerhouse.

The Rise of the King

Calling yourself the king of hamburgers is a lofty standard to keep up with, yet Burger King seems to be doing just that. 2019 visits for the brand were 9.1% higher overall than 2018 speaking to an exceptional year for in-store demand.

Yet, while it was definitely a great year for Burger King, the success was more mixed in Q4. October visits were 11.1% above the baseline, compared to 6.1% above in 2018, and November visits were 1.1% above in 2019 compared to 0.4% below in 2018. Yet, December visits dropped from 8.8% above the baseline in 2018, to 3.8% above in 2019.

Overall, Q4 brought a strong end to an even stronger year for the brand, building momentum into 2020. But the real thing to watch could be an attempt to make a stronger move into breakfast following similar decisions from competitors like McDonalds and Wendys.

RBI’s Coffee Question

It hasn’t been a rosy period for Tim Horton’s. The brand has seen declines over the last few years, executives have moved on and the impact has been felt. Yet, there are indications that the U.S. operation may be seeing a turnaround.

Looking at the period from January 2018 through December 2019 shows a Q4 performance for the brand that is promising. October and November visits were up year-over-year, with visits 11.5% and 2.9% above the baseline for the period, far better than 2018’s 4.9% above the baseline in October and 4.2% below in November. However, December did show a decline from 0.6% below the baseline in 2018 to 3.2% below in 2019.

The stronger Q4 brought overall year-over-year visit growth to 1.1% in the U.S. Should international numbers see a similar impact, the negative pull on the overall RBI performance could be negated, allowing Popeyes and Burger King to better revel in their strong performances. 
Can Tim Horton’s really drive a U.S. turnaround? Visit to find out.

Get 3 brand & industry
breakdowns every week

Subscribe to the newsletter

Great! Prepare your inbox for data-driven insights...
Oops! Something went wrong while submitting the form.

Get a Demo

Please enter your first name
Please enter your last name
Please provide a valid email
Please enter your email
Please enter company name

Thanks for reaching out!

One of our experts will be in touch soon

Try Free
Oops! Something went wrong while submitting the form.
Recapping Valentine’s Day 2024 Foot Traffic Trends
Fitness: A Strong Start to 2024
Dutch Bros. Continues To Percolate Visits
Super Bowl 2024:’s Postgame Foot Traffic Analysis
CAVA & sweetgreen Are On the Rise
Hats Off For Off-Price
Who Is Shopping at Malls?
Drilling Down Into Home Improvement
Walmart, Target, Costco & Superstore Space 2023 Recap
Catching Up With Shake Shack and Wingstop
Something To Chew On: Demographic Shifts at Steakhouse Chains Office Index: Looking Back at 2023
Recapping RBI & Yum! Brands’ 2023 Foot Traffic Performance White Paper Recap – January 2024
Who Shops at Anthropologie and Urban Outfitters?
Three Taco Chains to Watch in 2024
Starbucks and Dunkin’: 2023 in Four Data Points
Who Visits CVS and Walgreens?
Fashionably Frugal: Apparel in 2023
Catching Up With Fast Food
The Grocery Sector in 2023: An End-of-Year Recap
3 Mall & Shopping Center Trends for 2024
Bakery Chains Rising To The Top and Esri Partner to Deliver Geospatial Analytics
Tampa Tourism Trends
Going For The Green: The Changing Dynamics Of Country Clubs
Christmas Day Dining Recap
Major Urban Shopping Districts – Holiday Season Recap Office Index: December 2023 Recap
Recapping the 2023 Holiday Shopping Season White Paper Recap – December 2023
7 Retail & Dining Segments to Watch in 2024
Diving Into Holiday Season Favorites
Super Saturday and Christmas Eve Eve: A Winning Combination
3 Budget Grocery Chains Finishing 2023 On a High Note
Making It In America: International Chicken Chains Bring The Heat
Domestic Tourism at a Glance: A Q3 2023 Roundup
Five Pizza Chains On The Rise
Jewelry Brands Taking Advantage of the DTC Opportunity
Secondhand News: Kids' Thrift Shops
Recapping 2023’s Dining M&As
MetLife Stadium Kicks Off Football Season Office Index: November 2023 Recap
Small Coffee Chains Brewing Big Success White Paper Recap – November 2023
Thanksgiving Travel 2023 Recap
Checking in With Nike and Lululemon
Black Friday 2023 Retail Recap
Starbucks’ 2023 Holiday Menu & Red Cup Day Performance
Turkey Wednesday 2023
Who Attended the 2023 Pickleball Championship? 
Three Surprising Holiday Shopping Trends
What’s in Store for Ulta Beauty This Holiday Season?
Best Buy and Department Stores: A Holiday Deep Dive
Discount & Dollar Stores: Strength Toward The End of the Year
The State of Off-Price Retail: Discounts Seal The Deal
Placer Mall Index Recap: October 2023 Office Index: October 2023 Recap
Retail Corridors Ahead of the 2023 Holiday Season
California, Here Gap Comes
Checking in With Home Improvement
Getting Into the Glasses Game: Warby Parker Takes Over
Fitness Positioned for a Strong 2023 Finish
White Paper Recap: October 2023
Coffee Giants Brewing Up Business
Popeyes and Burger King Lead the Way
Diving into Yum!
Looking Ahead to Black Friday 2023
Blockbusters Drive Movie Theater Comeback
Crocs and Boot Barn: Shoe-Ins for Success
McDonald’s and Chipotle's Winning Recipe
The State Of Steak: Checking in With Texas Roadhouse
Pleasant Pastimes: Pickleball Potential Proves Potent
Who’s Driving Downtown Manhattan’s Weekend Revival?
Diving into Downtown Manhattan Foot Traffic Trends
Rite Aid: Rightsizing Right
Major League Soccer: Its Die-Hard and Casual Fans
The Anchor Recap: September 2023 Office Index: September 2023 Recap
Placer Mall Index Recap: September 2023
September White Paper Recap
The Consumer Habits of College Students
JCPenney: Rightsizing and Revitalizing
Pent-Up Demand Ahead of October Sales Events
4 Strategies Retailers are Using to Drive Traffic to Their Venues
5 Key Regional Grocery Players Impressing in 2023
Upscale Kitchenware Trending Up
Costco Finds More Room for Growth
Four C-Store Chains Making an A-Grade
National Parks + Outdoor Summer Activities
Diving Into Darden: Summer 2023 Update
The Summer Event Effect
Messi: Massive in Miami
Looking Back on Back to School 2023
The Anchor Recap: August 2023 Office Index: August 2023 Recap Mall Index: August 2023 Recap White Paper Recap: August 2023
Starbucks Pumpkin Spice Latte Strikes Again
Big Scoop: We All Scream For Ice Cream