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Cold Stone parent ups kiosk deployment
August 16, 2010
Tim Hortons, an Oakville, Ontario-based restaurant chain that operates the Cold Stone Creamery ice cream outlets, recently reported second quarter results including the increased use of kiosks.
System-wide sales increased 9 percent on a constant currency basis compared with the second quarter of 2009. During 2Q 2010, total revenues were $639.9 million, an increase of 5.7 percent compared with $605.5 million last year.
During the second quarter operating income was $149.9 million, a 16 percent increase compared to $129.0 million last year. Strong system-wide sales growth drove higher rents, royalties and distribution income.
Same-store sales in the U.S. segment grew by 3 percent in the second quarter. A total of 21 Tim Hortons locations opened in the second quarter, including 15 self-serve kiosks. In addition, at the end of the second quarter there were 70 co-branded Tim Hortons and Cold Stone Creamery locations, with 67 of those sites being Tim Hortons restaurants.
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