Burger King managed to exceed its earnings estimates of the last financial quarter, reaching its best North American growth in nearly a decade, reports Bloomberg.
Its parent company, Restaurant Brands International, attributes that success to a number of promotions and appealing discounts introduced since last year, when Burger King bought Tim Hortons and formed RBI.
In the last 13 months, sales for Burger King rose 6.9 percent in North America, and a solid 5.3 percent for Tim Hortons.
“It’s a combination of running great restaurants and launching great products,” Restaurant Brands CEO Daniel Schwartz told Bloomberg.
Burger King’s good news contrasts rather starkly with the sales slump endured by McDonald’s, which was confirmed to be its worst in a decade, and continues into the most recent financial quarter.
Steadily poor global performance also led McDonald’s to choose a new CEO, close down 700 of its underperforming stores, and introduce a custom burger option and other concepts — which one analyst described as “throwing a lot of spaghetti at the wall, but it’s not clear that any of it is the right spaghetti.”