Axel Schwan on economic outlook
From Recipe for Success: How Tim Hortons and RBI are Running the Playbook for Growth · · Empire Club of Canada
“Since 1964, Tim Hortons has always delivered very good value for money, and regardless of economic conditions, as long as we offer quality products at attractive prices, we tend not to be impacted by macro trends.”
On , Axel Schwan, President of Tim Hortons - Canada & U.S. at RESTAURANT BRANDS INTL INC, spoke about economic outlook during Recipe for Success: How Tim Hortons and RBI are Running the Playbook for Growth on Empire Club of Canada.
About Axel Schwan
Axel Schwan, President of Tim Hortons for Canada and the U.S., spoke at the Empire Club of Canada on September 16, 2024, about the brand's recent performance and strategic priorities. He stated that Tim Hortons had reported 10 consecutive quarters of same-store sales growth and described the brand as "the most loved restaurant brand in Canada." Schwan noted that four or five years earlier, sales traffic, restaurant profitability, and brand love scores were declining, and that the company responded by focusing on food quality improvements such as fresh cracked eggs and better apple fritters. Schwan discussed several operational initiatives, including the use of technology to improve guest and team member experiences, such as a scan-and-pay feature in the app. He said the company had published restaurant-level profitability data to foster transparency with franchisees, adding that the relationship with franchisees is "very good now" after years of building trust. Schwan also outlined a priority to expand into lunch and dinner dayparts, where Tim Hortons holds a single-digit market share, through new products like loaded wraps and bowls. He attributed the brand's resilience to its long-standing value proposition, stating that as long as the company offers quality products at attractive prices, it tends not to be impacted by macro trends.