facts. As a Premium user you get access to background information and details about the release of this statistic. Two unrelated questions, the first one just on the Tim Hortons Canadian business. Most valuable QSR brands worldwide in 2020, Sales per unit of Kentucky Fried Chicken in the U.S. 2006-2019, Sales per unit of Taco Bell in the U.S. 2006-2019, Sales per unit of Pizza Hut in the U.S. 2006-2019. So we're pretty excited about it. We've been encouraged by the test market feedback so far and plan to expand to a few more select test markets around the country this summer as we prepare for a national launch later this year. Update, Insights into the world's most important technology markets, Advertising & Media Outlook Thanks. Well, I would say that we have seen that the delivery -- kind of our delivery orders will over index a little bit toward later in the day or kind of dinner daypart. In fact, the average Chick-fil-A unit made around $4,090,900 in 2017. It has tremendous awareness in Canada, our guests in Canada love that program, it connects well with them, and so, we think there's an opportunity to integrate this with digital and continue to evolve the program to meet the expectations of our guests and of our franchise and restaurant owners in the business. In 1995, your burger cost an average of $0.74. Thank you everyone for joining us on the call this morning and for your continued support. While it's still early, after just the first 5 weeks, approximately, 20% of Canada's population has used the loyalty program, with almost half of our daily transactions now scanning the loyalty card. While less of a threat at lunch and dinner, coffee brands like Starbucks and Dunkin have a share of breakfast as well. Entire Burger King's prices and menu. I actually just have one question on delivery this morning, with a couple of parts if that's OK please. So I'll give it back to Jose for the Tims China question. The average trading volume was roughly four million shares. Thank you. Our net unit growth slowed slightly in Q1 versus last year to 5.7%, primarily as a result of plant closures in our home market. Incidentally, this is nothing new. And we appreciate the update. And our next today comes from John Glass of Morgan Stanley. -/AFP/Getty Images Burger King â¦ Thank you, operator. However, we were lapping several impactful offerings last year, such as the Double Quarter Pound King and the launch of the Spicy Crispy Chicken Sandwich and we were unable to build further on these in Q1 of this year with the launch of our Grilled Chicken Sandwich, which did not perform to our expectations. As a reminder the timing and amount of stock option exercises can vary materially quarter to quarter, and can thus have a much more material impact on a particular quarter's tax rate as compared to the full year rate. Matthew Dunnigan -- Chief Financial Officer. I'm going to have Josh answer that. Burger King is launching the Impossible Whopper in its U.S. stores, starting Aug. 8. Average Annual Gross Sales of Top 25% Top 25% average US $723,000 * * $723,000 is the average gross sales of the top 25% of all traditional franchised units in operation for the entire calendar year ended December 30, 2019 Returns as of 12/28/2020. 7 spot on last year's Nation's Restaurant News' Top 200, passing Wendy's, Burger King, Taco Bell, and Subway. While the timing of unit growth can vary across quarters, we have a strong full year pipeline and are excited about our continued growth prospects in markets all over the world, including in fast growing key markets like China, France, Russia and Brazil. Please go ahead. Finally, on Tims, we continued to make progress, growing in new markets around the world. I mean it would seem like that's not necessarily in line with your core customer, but just wondering if you can provide some color in terms of what your outlook is for that platform? It is also worth noting that the $10 million year-over-year increase includes approximately $4 million of discrete expense specific to the first quarter related to the modification of existing grants. New, Everything you need to know about the industry development, Find studies from all around the internet. You'll have an opportunity to hear from a broad range of our senior leaders, who are running our business around the world and we'll share important insights and the key drivers of comparable sales growth, opportunity for sustained and new unit growth globally and the unique competitive differentiators for us, including our master franchise relationships around the world. This, combined with the previously announced investments in our Tim Hortons and Burger King remodel programs, supply chain distribution expansion project, and our continued delevering, illustrate our balanced approach to capital allocation as we look to continue creating value for all of our stakeholders for many years to come. 2017 Second Quarter Results. We've had very positive social media reactions from local guests. Joining me on the call today are Restaurant Brands International's CEO, Jose Cil and CFO Matt Dunnigan. We also believe there is a long-term opportunity for our breakfast business, which we started to invest in and overhaul toward the end of Q1, with the launch of the BK Cafe. Now, let's dive in with Tim Hortons, where I want to spend some time on our performance. Brick House Tavern & Tap â $3.3 million. Average EY for period (%) 5.92-1.91. QSR magazine. Given all of this, we do not believe our Q1 comparable sales accurately reflect the underlying strength of the Tims business in Canada. The last notable impact of the new lease accounting standard is the reduction of the amortization period for a small portion of our lease portfolio, resulting in a higher amortization expense. Around the world, we feel very good about the development plans we've built with our master franchise partners. This morning, we also announced that the RBI Board of Directors declared a dividend of $0.50 per common share and partnership exchangeable units of RBI LP, payable on July 3rd, 2019, which is consistent with our previously announced target of $2 in total dividends per share to be declared in 2019. And the exit surveys from our owners showed trust in the plan and trust in the team at significantly higher levels compared to the same meetings held last spring. The Future of Foodservice. Last year, we opened well over 200 restaurants in the US, most of which were significantly higher volume than the ones we closed. In addition, the partnership with our franchisees continues to get stronger. Attend; 3 - 6 November 2019 Marina Bay Sands, Singapore. We also took a close look at what food offerings we should be delivering to our guests there in order to make it relevant for the Chinese consumer, while at the same time maintaining kind of the principles and the fundamentals of the Tim Hortons brand. We're all here for the long term. The brand is resonating with our Chinese guests, creating a good foundation to support our goal of significantly expanding Tims with our partner over the coming years. 380. And have you guys noticed, or seen this dynamic and has that changed how you're approaching pricing and check recently in your BK US business? As a result of the team's hard work Tim Hortons return to the top 10 brands in Canada, a list published by Ipsos-Reid and The Globe and Mail, was the only Canadian brand in the top 10. Posted Mon Monday 5 Aug August 2019 at 8:05pm Mon Monday 5 Aug August 2019 at 8:05pm, updated Mon Monday 5 Aug August 2019 at 11:42pm Mon Monday 5 Aug August 2019 â¦ Today's earnings call contains forward-looking statements, which are subject to various risks set forth in the press release issued this morning and in our SEC filings. So the mix of openings and closures that we saw in Q1 in the US, I think, overall is positive for the business because it helps address franchise profitability, which is one of the things we're obsessed with. 2014 average, high, and low annual sales for company-owned, franchised, and consolidated traditional and non-traditional Burger King restaurants with 12 months of actual sales as of December 31, 2014 Search Global Restaurant Leadership Conference. 30 Jun 2018 to 30 Jun 2019. 1.39. Dividend yield (%) 0.00. Hey. I did this every quarter at Burger King the last many years and plan to do the same thing in this role going forward. Indeed, we are really pleased with the results so far on loyalty. This is actually quite healthy for the business. We have a very strong brand, obviously, in Canada, serving seven out of 10 cups of coffee in the country. This is a healthy part of continuing to build franchise profitability in the US system as we close lower volume restaurants and replace them with new beautiful Burger King of Tomorrow restaurants. I was there in March, as I mentioned in my comments earlier, and I saw the first restaurant that we opened. And the first part is, how do you leverage at the RBI level the platform, thinking when you're talking about the POS upgrades at Popeyes? Chart. What we saw that worked well in the quarter were the $6 King Box, which has been in place for a bit of time, the launch of the Big King XL, which is a premium offering and we transitioned from $1 price point on nuggets to $1.49 price point and also introduced or reintroduced the spicy nuggets and that did well. We're building our breakfast business in the US and we think that's an opportunity for growth over the long haul. And so, I think that we're already figuring out how it's going to change, how we look at products and promotions, and I think it's going to change the way that we manage the business here already this year in 2019. Sales growth is encouraging Burger King operators to build new restaurants. I think the -- as I mentioned earlier, all of the underlying fundamentals that drove our Q3 and Q4 performance are still driving our performance today, including roughly 1.5% comp so far in April. Leading quick-service restaurant (QSR) chains in the United States in 2019, by sales per unit (in million U.S. dollars) [Graph]. The intensity and nature of the competition and the competitor tends to vary from time to time and we usually don't call out any particular competitor activity, as it's hard to pinpoint exactly or to quantify exactly what the impact is. The three-day initial public offer, which will close on Friday, December 2, 2020, consists of a fresh issue of Rs 450 crore. The operator has set the rent at 8.5% of projected sales. I'm never comfortable, but I'm super excited long-term about the business in the US. We're committed to growing our breakfast daypart long term and we believe our new BK Cafe platform will provide a solid foundation to help drive guest count and sales growth in this important daypart going forward. Unit count 7,522 6. Now, let's discuss our cash generation and capital allocation for the quarter. So, all in all, the planned closures for the first quarter were positive. Restaurant and foodservice industry in the U.S. Thank you. We felt those were -- we had much more concrete data to be able to share with you on that. Turning to Burger King, our first quarter comparable sales of 2.2%, were driven by strong international sales of 3.8%. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. FILE - This April 25, 2019, file photo shows a Burger King in Redwood City, Calif. Burger King is introducing a plant-based burger in Europe. BK is the worldâs second-largest Burger chain with ~19k restaurants in more than 100 countries. Within the US, as I mentioned, we were pleased to have one of our biggest partners Carrols add the Popeyes brand to its portfolio through its merger with Cambridge and committed to opening approximately 70 Popeyes restaurants over the next six years. Our global network of proven, well capitalized operating partners, combined with the strength of the brand and product offering, gives us conviction that Popeyes can be one of the fastest growing QSR brands in the world. We were pleased to see sequential improvement in home market comparable sales growth each month in the quarter, reflecting a balanced offering across the menu, bolstered by good performing limited time offers like our $5 Tackle Box, our $5 Shrimp Offer and Two can Dine. And what's encouraging is that these building blocks from our Winning Together Plan have been and been resonating well with our guests and continue to drive the underlying business. Figures for Wendy's and Jack in the Box include a small amount of international locations. You'll recall, in 2018, we introduced the BK of Tomorrow restaurant image, which is a leap forward in integrating technology, as well as an enhanced drive-through experience into a modern evolution of our restaurant image. And the other question was just on Burger King and possible launch. Chick-fil â¦ At the segment level, Tim Hortons' first quarter adjusted EBITDA was $237 million, which represents a 1.1% organic increase year-over-year. That restaurant tops at $5.743 million, according to a recent franchise disclosure document. Apr. I wanted to clarify, is that an issue that you think was isolated to the first quarter or something you think will continue? Thanks, Jeffrey. Good morning. On the competitive activity, we obviously are in a very highly competitive market in Canada, but that's not anything new. Investors can expect meaningful quarter-to-quarter volatility in our tax rate related to the unpredictability of stock option exercises. "Leading Quick-service Restaurant (Qsr) Chains in The United States in 2019, by Sales per Unit (in Million U.S. In the quarter, there was no tenant inducement recorded within the operating cash flow, which would suggest no remodel activity at Tims Canada. We made some changes to the program, we increased the length of it, we increased the coffee awards and we didn't see a corresponding uplift in traffic. Right. The second factor was a weak Roll Up the Rim campaign. I guess specific question is, what are the closures in the US, how did that -- how much did that impact the total Burger King units and how you think about that in the years? We are not in this for the short-term. Find flavors you like. I mean is there any color as far as, is that coming from other coffee QSR players or kind of the overall QSR space, or like any color at all if you can give us as to where do you think the competition is coming from? The companyâs AUV systemwide (domestic franchises) is $1.228 million. We have something like half of our transactions already every day going through this new loyalty program in a very short period of time and I think that's really exciting. Thanks for the question on delivery. Hi, Nicole. We're seeing that it's attracting new guests. Good afternoon, guys. Burger King, Tim Hortons and Dunkinâ are also focusing on in-store technology, including kiosks. Earnings yield (%) 9.41. It helps continue to build franchise profitability in the US system as we close these lower volume restaurants and we're replacing them with new BK of Tomorrow restaurants. And our next question today comes from David Tarantino of Baird. As I mentioned earlier that, the fundamentals of our business remains strong, the diversity of our global business combined with continued strength of our restaurant expansion model enables us to continue driving solid top-line growth in Q1 of nearly 6.5% systemwide sales. We'll see some shifts and movements in terms of where the focus of it is by quarter. This is another example of the impactful, edgy marketing campaigns that have built the brand over the recent years and draw attention to relevant and impactful menu innovation of Burger King. I actually met some long time Tim Hortons fans. And I know you had a difficult lap, but wondering if you could speak to the underlying traffic trends? Growth in our top-line resulted in Q1 Burger King adjusted EBITDA of $222 million, representing a year-over-year organic increase of nearly 10%. And then, my follow-up was just on Tims in China. 369 - lowest. and over 1 Mio. It is important to note this expense is non-cash and not included in adjusted EBITDA, but will impact our adjusted net income. Thanks, Jose. Great. This statistic shows the leading quick-service restaurant (QSR) chains in the United States in 2019, by sales per unit. We continue to see franchise profitability in the business in the US, it fluctuate from month-to-month and quarter-to-quarter, but over the long haul, we've seen good progress on that front. The first factor was severe weather across Canada throughout the quarter, which resulted in a drag on comparable sales growth of approximately 1% in Q1. In, QSR magazine. 2016 average, median, high, and low gross sales for franchised traditional Modern and Legacy Image Burger King restaurants that were open for the full 12 months ended December 31, 2016 (separately stated) Section I â Background Information 14 Things You Need to Know About the Burger King Franchise. And first, could you just talk a big picture about technology? In Q1, our Tims comparable sales were negative 0.6% and negative 0.4% in Canada. The conference has now concluded. Finally, before I turn it over to Matt, I wanted to share with everyone how excited we are about our first ever Investor Day coming up in just a few weeks in New York City. Relative to the first quarter of 2018, we continued to delever while also returning approximately $1.4 billion to shareholders over the past 12 months through dividends and share repurchases. And two, going back to the point that I made to Nicole's question earlier, it's helping us already in just such a very short period of time to be able to understand our business much better. Where we didn't do so well, as I mentioned earlier is, we didn't have a great launch to the Grilled Chicken Sandwich. 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