Canadian Covid outbreaks challenge Tim Hortons’ turnaround


A pedestrian walks past a Tim Hortons restaurant.

Ben Nelms | Bloomberg | Getty Images

Canada’s worsening wave of Covid-19 cases is putting pressure on Tim Hortons, the country’s iconic coffee chain, and that could be hiding some of the progress its turnaround is making.

Parent company Restaurant Brands International is a popular stock among Wall Street analysts. Barclays Capital, for example, selected it as one of its top picks for medium- or long-term investors. Burger King and Popeyes are recovering quickly in the U.S., and a successful turnaround of Tim Hortons would fix the laggard of the portfolio.

So far this year, Restaurant Brand shares have risen 12%, giving the company a market…


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