Welcome to our dedicated page for TH International news (Ticker: THCH), a resource for investors and traders seeking the latest updates and insights on TH International stock.
TH International Limited (NASDAQ: THCH) serves as the primary operator of Tim Hortons and Popeyes restaurants across mainland China, Hong Kong, and Macau. This page provides investors with verified updates on strategic developments, financial performance, and market initiatives within China's competitive quick-service restaurant sector.
Access official press releases detailing new store openings, menu innovations, and partnership announcements alongside quarterly earnings reports and corporate governance updates. Our curated news collection enables stakeholders to track the company's progress in adapting globally recognized brands to local consumer preferences.
Key updates include expansions of the Tim Hortons coffee network, Popeyes' market penetration strategies, operational efficiency initiatives, and leadership developments. All content is sourced directly from company filings and authorized communications to ensure reliability.
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Tims China (Nasdaq: THCH) reported Q1 2024 financial results with total revenues of RMB346.8 million (USD48.0 million), a 3.1% increase YoY. System sales increased by 7.1% YoY to RMB363.5 million (USD50.3 million). The company opened a net of 5 new stores, consisting of a net closure of 15 company-owned Tims stores, a net opening of 19 franchised Tims stores, and one new Popeyes store. Adjusted store EBITDA grew by 2.0% YoY to RMB6.1 million (USD0.8 million), with an EBITDA margin of 2.0%.
Registered loyalty members grew 63.6% to 20.3 million. The CEO highlighted product innovation, with 14 new beverages and 18 new food products launched. The CFO emphasized cost efficiency, with reductions in food, packaging, rental, and labor costs. Despite operational efficiencies, the company reported an operating loss of RMB129.4 million (USD17.9 million) and a net loss of RMB142.8 million (USD19.8 million). Adjusted net loss was RMB97.8 million (USD13.6 million), improved from RMB117.1 million YoY.
TH International (NASDAQ: THCH), the parent company of Tim Hortons coffee shops and Popeyes restaurants in China, will be participating in the EF Hutton Annual Global Conference 2024 in New York City on May 15. The CEO, Director, and Investor Relations team will be meeting with investors throughout the day. Tims China focuses on world-class execution, data-driven decision making, local relevance, innovation, community, and convenience.
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