TH International (NASDAQ:THCH) shares are trading higher on Thursday after the company reported Q4 financial results.
Tims China reported quarterly earnings of $0.11 per share and $43.71 million in sales this quarter. The company also announced net new store openings totaled 131, including 93 company owned and operated stores and 38 franchised stores.
Mr. Yongchen Lu, CEO & Director of Tims China, commented, “Despite the difficult circumstances, we managed to grow total revenues year-over-year by 34.6%, expand our store network to 617 across 39 cities, launch a series of new bestseller products such as ‘mulled wine flavored brewed coffee’ and ‘salted egg yolk wrap’, and grow our registered loyalty club membership to over 11 million by year-end.”
TH International is the exclusive operator of Tim Hortons coffee shops in China.
THCH Price Action: TH International has a 52-week high of 8.08 and a 52-week low of $2.54.
TH International shares are up 18.6% at $4.46 at the time of writing, according to Benzinga Pro.
