Tims china announces first quarter 2023 financial results

Total revenues increased 49.8 % year-over-year for the first quarter 2023 31 net new store openings in the first quarter, 648 system-wide stores at quarter-end 12.4 million registered loyalty club members at quarter-end, represents 79.3% year-over-year growth adjusted store ebitda margin increased 13.8 percentage points from the first quarter 2022 to 1.9% continued recovery: 8.0% same-store sales growth for company owned and operated stores in the first quarter 2023, including 17.1% in february and 19.4% in march shanghai and new york, may 30, 2023 (globe newswire) -- th international limited (nasdaq: thch), the exclusive operator of tim hortons coffee shops and popeyes restaurants in china (“tims china” or the “company”) today announced its unaudited financial results for the first quarter 2023. first quarter 2023 highlights total revenues were rmb336.5 million (usd49.0 million), representing a 49.8% increase from the same quarter of 2022.
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