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article imageReport: Tim Hortons looking to expand, add new food items to menu

By Andrew Moran     Mar 7, 2012 in Business
Toronto - As Tim Hortons customers roll up the rim to win, executives are looking at adding more locations across the country and putting new food items onto its already expanded menu, such as Panini sandwiches.
What else could Tim Hortons possibly do to its stores and menu? Well, Paul House, president, CEO and executive chairman of Tim Hortons, told a group of investors at a conference in Orlando Tuesday that he wants to expand by adding another 700 stores in Canada, according to a report from the Toronto Star.
If you thought its beef lasagna casserole, fruit smoothies, specialty bagels and espressos and lattes were enough, House wants to add even more to its menu, such as made-to-order Panini sandwiches – this has already been tested in New York and Ohio chains.
House told the Raymond James Annual Institutional Investors Conference attendees that he also wants to increase same-store sales by between three and five percent in Canada and between four and six percent in the United States.
“You might think that with our strong market share, there might be limited opportunity for growth in Canada. That is simply not the case,” said House. “We believe that there is an opportunity for 4,000 locations in Canada.”
Locations are not just being established in North America, but the company is already in the stages of opening chains in Saudi Arabia, Bahrain, Kuwait, Oman, Qatar and the United Arab Emirates, including 120 in the region by the year 2017.
So where would Tim Hortons focus its new restaurant locations in Canada? He didn’t state explicitly, but he did note that the coffee and baked goods shop is most popular in Atlantic Canada where there is one Tim Hortons outlet for every 7,000 residents – Ontario’s figure is one for every 8,000 residents.
At the present time, Tim Hortons maintains nearly 3,300 Canadian locations, 714 in the U.S. and five in the UAE.
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