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Stock Market & Financial Investment News

News Breaks
February 20, 2014
07:35 EDTTHITim Hortons authorizes new share repurchase program for up to $440M
Tim Hortons plans to commence a new share repurchase program for up to $440M in common shares. The company has obtained regulatory approval from the TSX to commence a new share repurchase program, not to exceed the regulatory maximum of 13,726,219 shares, representing 10% of the company's public float as of February 14. The bid is planned to commence on February 28 and is due to terminate on the earlier of February 27, 2015 or the date the maximum share or dollar amount is reached.
News For THI From The Last 14 Days
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August 15, 2014
06:39 EDTTHITim Hortons aims to lure customers via new coffee launch, Reuters says
Tim Hortons (THI) is looking to attract new customers and fight competitors, such as Starbucks (SBUX) and McDonald's (MCD), by revealing a new dark roast coffee blend throughout North America while possibly increasing prices to fend-off increasing expenses and rivals, according to Reuters, citing comments from Tim Hortons CEO Marc Caira. Caira said, "Looking at the coffee market, I would suggest that, given the degree of cost increases, that we are looking at prices going up sometime in 2015." Reference Link
August 7, 2014
10:00 EDTTHIOn The Fly: Analyst Upgrade Summary
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09:17 EDTTHITim Hortons upgraded to Outperform from Market Perform at BMO Capital
07:09 EDTTHIWendy's to sell all company-owned operated restaurants in Canada
The company plans to sell approximately 135 Company-operated restaurants in Canada to new and existing franchise operators. The company is targeting the end of the first quarter of 2015 for the completion of these transactions. The Company plans to retain its ownership of TimWen Partnership, its Canadian restaurant real estate joint venture with Tim Hortons (THI). Brolick said selling 100 percent of the Company's operations in Canada to franchisees will create a strong platform for future growth. The Company intends to prioritize the sale of its Canadian restaurants to well-capitalized new and existing franchisees with a demonstrated history of operational excellence and a stated commitment to implement the Company's Image Activation restaurant development and reimaging strategy. The Company expects the following benefits to offset the annualized decrease in revenue resulting from the sale of its Canadian restaurants: Reduced annualized general and administrative expense of approximately $8 million relative to the Company's 2014 estimated G&A expense of approximately $275 million. It also sees higher cash flow, due to the expected increase in rent and royalty revenue, as well as lower ongoing capital expenditures. The Company anticipates the sale of its Canadian restaurants to reduce Adjusted EBITDA by as much as $5 million in 2015, resulting in expected Adjusted EBITDA growth in the mid-to-high single-digit range in 2015. The Company expects the transactions to be neutral to Adjusted EBITDA in 2016 and accretive to Adjusted EBITDA in 2017 and thereafter. The Company expects the transactions to be neutral to net income in 2015 and slightly accretive to net income thereafter.

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