Gains made with Restaurant Brands

Shares in fast-food company Restaurant Brands rose Monday after it reported booming sales growth at its Burger King chain thanks to value meals and new menu items, such as a bacon burger.

Sales rose 4.6 per cent in the most recent quarter at established Burger King restaurants as the value meals and new items were popular with consumers. Value menus have become increasingly important to fast-food companies looking to boost sales; earlier this year, McDonald’s revived the name of its once-popular Dollar Menu with items costing $1, $2 or $3.

At Restaurant Brands’ coffee and doughnut chain Tim Hortons, sales rose 0.1 per cent as it launched a new order-ahead app and it started selling pricier espresso drinks.

At Popeyes, which Restaurant Brands bought for $1.8 billion last year, sales slipped 1.3 per cent at established restaurants during the last three months of the year. Restaurant Brands CEO Daniel Schwartz said the company plans to expand the brand by opening more of the fried chicken restaurants around the world.

Burger King, its biggest chain, had nearly 16,800 locations at the end of last year. Tim Hortons had nearly 4,800 and Popeyes had about 2,900.