Restaurant Brands International (NYSE:QSR) gave a sales update today that it entitled "100 Days Later: Recovery, Growth and Reflection." The company gave updates for each of the month's of March, April, and May, and this being the last week of the second quarter, gave a more comprehensive summary of how it has managed during COVID-19.
Meeting new standards
Many restaurants have seen falling sales over the months of March, April, and May while some were closed and others had to switch to new models.
RBI began to implement enhancements in its delivery, mobile order and pay, and drive-thru programs to try to pick up some of the sales slack.
To complement these efforts, the company completely revised its digital experience with new sites and apps to support its to-go options. This resulted in increased digital sales, and RBI continues to see growth in this area.
How each brand is doing
Burger King is seeing flat sales year over year after falling as low as a mid-30s decline in March, when stay at home orders began. Drive-thru is doing particularly well as most dining rooms remain closed.
Popeye's is seeing comps growth in the mid-20s driven by the national launch of its chicken sandwich, which it has also launched in Canada and which it will bring to other markets as well.
90% of Tim Horton's stores in Canada are open and sales have increased from a mid-40s decline in March to a high-teens decline last week.