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迈过千店门槛的Tims中国,仍然水土不服
Hua Er Jie Jian Wen· 2025-06-25 13:50
Core Insights - Tims China is experiencing challenges in the domestic market despite its expansion efforts over the past six years [1] Group 1: Financial Performance - In Q1, Tims China achieved system sales of 376.3 million yuan, a year-on-year increase of 3.5% [2] - The company's actual revenue for Q1 was 301 million yuan, a decline of 9.5% year-on-year, with adjusted EBITDA losses of 29.3 million yuan compared to a loss of 52.3 million yuan in the same period last year [4] - Same-store sales decreased by 7.8%, with a 6.5% drop in single-store sales for direct-operated stores, and a 14% decline in order volume [9][10] Group 2: Store Expansion and Structure - The number of franchise stores has rapidly increased, with a net addition of over 120 stores in the past year, raising their proportion in the store structure from 37% to 44% [3] - In Q1, Tims China closed 7 direct-operated stores while adding 9 franchise stores, bringing the total number of stores to 1,024 [5] - In the previous quarter, there was a net addition of 76 stores, including 12 direct-operated and 64 franchise stores [6] Group 3: Competitive Landscape and Strategy - Tims China is facing intense competition in first- and second-tier cities, with competitors like Starbucks and Manner introducing baked goods and other brands promoting energy bowls [11] - The company is focusing on a differentiated competition strategy by expanding its product categories, particularly with bagels, to maintain an average transaction value of around 30 yuan [7] - Tims China has started to target the lunch market by launching new products such as hot bagel sandwiches and energy bowls [8] Group 4: Future Goals - The CEO has set a goal for Tims China to achieve positive cash flow profitability and same-store sales growth by 2025 [11] - Achieving these goals is considered challenging given the current market conditions, including aggressive pricing competition in the coffee and tea sectors [12]
Tims天好中国2025年第一季度营收达3亿元
Zheng Quan Ri Bao Wang· 2025-06-24 12:44
Core Insights - Tims China reported a total revenue of 300.7 million RMB for Q1 2025, with system sales reaching 376.3 million RMB, indicating a strong performance in the market [1] - The company launched a strategic new product line, the "Light Lunch Box" series, which includes various food items aimed at enhancing its "coffee + warm food" differentiation advantage [1] - Tims China has expanded its franchise network significantly, increasing the total number of franchise stores to 455, a growth of 153 stores compared to the previous year [1][2] Financial Performance - The self-operated stores contributed 17.15 million RMB, with a contribution rate of 6.7%, reflecting a year-on-year increase of 5.9% [1] - The adjusted EBITDA loss has been significantly reduced by nearly half, indicating improved operational efficiency [1] Market Expansion - As of March 31, 2025, Tims China has expanded its business presence to 27 out of 34 provincial regions in China, with a notable opening of a franchise store in Nanchang, Jiangxi province [1] - The company has successfully launched 25 new products in Q1 2025, including 12 beverages and 13 food items, aligning with consumer demand and product differentiation strategies [2] Customer Growth - Tims China registered a total of 25.15 million members by March 31, 2025, marking a year-on-year growth of 25.7% [2]
Tims天好中国发布财报:一季度总营收超3亿元,门店覆盖达84城
Xin Lang Cai Jing· 2025-06-24 10:54
Core Viewpoint - Tim Hortons China reported a strong performance in Q1 2025, with total revenue reaching 300.7 million RMB and system sales at 376.3 million RMB, indicating a solid growth trajectory in the Chinese market [1] Group 1: Financial Performance - The company's Q1 revenue was 300.7 million RMB, with system sales of 376.3 million RMB [1] - Self-operated stores contributed 17.15 million RMB, with a contribution rate of 6.7%, showing a year-on-year growth of 5.9% [1] - Other income for Q1 was 46 million RMB, a 28.6% increase from 35.8 million RMB in the same period last year, with profit from other income rising by 34.5% [2] Group 2: Store Expansion - The total number of stores reached 1,024, with 569 self-operated and 455 franchised stores, covering 84 cities across China [1] - The number of franchised stores increased by 153 from 302 in the previous year, averaging one new franchise opening every two days [1] - Seven new special channel franchise stores were opened in Q1, located in major transportation hubs such as airports [2] Group 3: Operational Efficiency - The company achieved a nearly 50% reduction in adjusted EBITDA losses, indicating improved profitability [3] - Self-operated store costs and expenses decreased by 19.0% compared to the previous year, with food and packaging costs down by 24.6% [2] - Marketing expenses at the headquarters level decreased by 11.8% as brand influence expanded [2] Group 4: Strategic Initiatives - The CEO emphasized the importance of innovation and execution to tailor products to changing consumer preferences in 2025 [3] - The company aims to leverage the recovery in national consumption and further advance its franchise strategy to achieve sustainable growth [3]