RBI: Reports Second Quarter 2020 Results

Oakville / CA. (rbi) Restaurant Brands International Inc. (RBI) reported financial results for the second quarter ended June 30, 2020. Chief Executive Officer Jose Cil commented, «The Covid-19 pandemic has introduced a host of unprecedented challenges, but our proactive and coordinated response across the globe has helped drive a significant recovery in performance since March. I am so proud of our restaurant owners, our restaurant team members, and our entire team at RBI for their incredible work and dedication in confronting this crisis. By the end of the quarter, we were back to 90 percent of our prior year system-wide sales with 93 percent of our restaurants open worldwide, which speaks to the strength and resilience of our three amazing brands and business model.»

Cil continued, «During this crisis, the strength of our drive thru, digital and delivery channels has been a particularly important differentiator as guests have looked to us for a combination of safety, convenience, quality and great value that few can match. It was encouraging to see our investments in digital channels drive meaningful incremental sales in the quarter and we’re excited that in our home markets, digital sales across brands grew over 120 percent year-over-year and more than 30 percent quarter-over-quarter.»

«We are a growth company at our core and we are continuing to make progress behind important initiatives to invest in our product quality, service, brand marketing and digital platforms. We are also working closely with our restaurant owners around the world to build strong pipelines and restart our global development engine. We have a very healthy balance sheet and three exceptional brands with well-capitalized systems. This combination positions us very well to navigate through this crisis and continue on our path to deliver industry-leading system-wide sales growth and build the most loved restaurants brands in the world,» added Cil.

«And, while we have been laser-focused on the recovery of our business this past quarter, we made sure that important long-term priorities didn’t get lost. We launched our Restaurant Brands for Good framework and identified major projects under the pillars of food, planet and people that we believe are foundational to building globally loved restaurant brands,» concluded Cil.

For additional information please read Restaurant Brands International’s PDF file below (107 KB):