China's TH International Q2 revenue falls on store closures
China's TH International Q2 revenue falls on store closures
Overview
China coffee chain operator's Q2 revenue fell 21.7% yr/yr due to store closures, lower same-store sales
Adjusted net loss per share widened from prior year
Registered loyalty club members rose 41.7% yr/yr to 37.1 mln
Outlook
Company plans to invest in innovation, marketing, and a balanced store network strategy
Tims China aims to regain market share and return to growth through strategic changes
Company sees loyalty program growth as a foundation to deepen engagement and support future growth
Result Drivers
STORE CLOSURES - Co said revenue decline was mainly due to closures of underperforming stores and a reduction in company-owned locations
WEAK SAME-STORE SALES - Co cited a 17.3% yr/yr decline in same-store sales for company owned and operated stores as a key factor in lower revenue
LOWER ORDER VOLUMES - Co reported a 20.7% yr/yr decrease in the number of orders, contributing to revenue decline
Company press release: ID:nGNXbkz1jY
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| RMB 273.40 mln |
|
Q2 Adjusted Loss Per Share |
| RMB 1.69 |
|
Q2 Loss Per Share |
| RMB 3 |
|
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)