Restaurant Brands plans to grow to more than 40K restaurants in the coming years

Restaurant Brands plans to grow to more than 40K restaurants in the coming years
The parent company of Tim Hortons plans to grow its three fast-food chains to more than 40,000 locations around the world over the next eight to 10 years. “Forty thousand restaurants worldwide will put us amongst the largest restaurant companies in the world,” said CEO Jose Cil at the company’s first investor day in New York on Wednesday. Restaurant Brands... Read More

American Express buys restaurant reservation service Resy

American Express buys restaurant reservation service Resy
NEW YORK — American Express is buying the online reservation startup Resy, the companies announced Wednesday, the latest move by AmEx to establish and maintain a foothold for its card members in some of the world’s most desired restaurants. AmEx and Resy, founded in 2014, declined to disclose the terms of the deal. However, in early 2017 Resy announced it... Read More

Updated fisheries law could stem loss of stocks, biodiversity: supporters

Updated fisheries law could stem loss of stocks, biodiversity: supporters
Significant changes could be coming to the way fisheries are managed in Canada, giving hope for the rebound of some species and the protection of others, says an ocean conservation group. Josh Laughren, executive director of Oceana Canada, said proposed amendments to the Fisheries Act would prompt the government to rebuild stocks that fall below sustainable levels. And while the changes still... Read More

Second Cup CEO Garry Macdonald to retire, Steve Pelton named successor

Second Cup CEO Garry Macdonald to retire, Steve Pelton named successor
MISSISSAUGA, Ont. — The Second Cup Ltd. says chief executive Garry Macdonald plans to retire at the end of the month. The coffee chain says Steve Pelton, who co-founded the Landing Restaurants which were sold to Recipe Unlimited in 2014, has been appointed to succeed him. The change in the executive suite came as Second Cup reported a profit of... Read More

George Weston nudges quarterly dividend higher, reports first-quarter loss

George Weston nudges quarterly dividend higher, reports first-quarter loss
George Weston Ltd. is starting to stabilize about a year into a multi-year transformation plan, executives say, as the company earned some new business during its most recent quarter. “Today at the conclusion of year one, we’ve seen meaningful progress,” said chief financial officer Richard Dufresne, during the company’s annual general meeting of shareholders Tuesday. The company, which also operates... Read More

Five things to watch for in the Canadian business world in the coming week

Five things to watch for in the Canadian business world in the coming week
TORONTO — Five things to watch for in the Canadian business world in the coming week: Air Canada earnings Air Canada CEO Calin Rovinescu speaks to analysts about the airline’s first-quarter results on Monday. Canada’s largest airline has announced that it is removing its grounded Boeing 737 Max jets from service until at least Aug. 1 in order to provide... Read More

Maple Leaf defends Lightlife veggie patty against Beyond Meat competitor

Maple Leaf defends Lightlife veggie patty against Beyond Meat competitor
Maple Leaf Foods Inc. defended its new vegetarian burger as competitor Beyond Meat’s shares soared during its first day of trading. “Our ambition is universal,” said CEO Michael McCain during a conference call with analysts Thursday after the company released its first-quarter earnings. The company has heavily invested in plant-based protein, acquiring two brands — Field Roast Grain Meat and... Read More

DavidsTea reports lower Q4 sales, announces plans to sell in more grocery stores

DavidsTea reports lower Q4 sales, announces plans to sell in more grocery stores
DavidsTea Inc. saw a drop in sales in its most recent quarter, but announced plans to expand its wholesale business. “Clearly our financial results are not yet where we want them to be,” said interim CEO and executive chairman Herschel Segal during a conference call Thursday after the company released its fourth-quarter financial results. “However, we are making headway and experiencing... Read More

Cost of celery spikes amid juice benefit claims, poor weather conditions

Cost of celery spikes amid juice benefit claims, poor weather conditions
The price of celery has roughly doubled recently in part due to heavy rains and a fad diet promoting a one-ingredient celery juice. Social media users are complaining of paying upwards of $5 for celery stalks, while a major Canadian grocer is advertising stalks for $5.99 online. Statistic Canada’s most recent data shows a kilogram of celery cost on average... Read More

Molson Coors Q1 results weaker but sees no impact from cannabis legalization

Molson Coors Q1 results weaker but sees no impact from cannabis legalization
MONTREAL — Molson Coors Brewing Co.’s first-quarter profit fell partly due to lower volumes, but executives say the drop doesn’t correlate to Canada’s legalization of cannabis last October. “I think at this point in time, it’s really fair to say we see absolutely no correlation between the sales of cannabis and the sales of beer across the industry or for... Read More