Published Feb 15, 2024 • Last updated 4 days ago • 8 minute read
Cups of coffee on the counter at a Tim Hortons outlet in Oakville, Ont.Photo by Chris Young/The Canadian Press files
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RBI expects to have 40,000 restaurants, $60 billion in sales by 2028
Restaurant Brands International Inc. says it expects its quick-serve empire to span 40,000 restaurants and achieve a collective US$60 billion in sales by 2028.
The Tim Hortons, Burger King, Popeyes Louisiana Kitchen and Firehouse Subs owner has about 30,000 restaurants these days and in its most recent financial year saw US$42.8 billion in system-wide sales.
Speaking at an investor day event in New York today, RBI executives said they expect the company’s adjusted operating income to hit $3.2 billion by 2028, up
Welcome to The Globe and Mail’s business and investing news quiz. Join us each week to test your knowledge of the stories making the headlines. Our business reporters come up with the questions, and you can show us what you know.
This week: Earning season continued. The Canada Pension Plan Investment Board reported that it earned 3.4 per cent in its latest quarter. It ended 2023 with nearly $591-billion in assets, up from $576-billion at the end of the previous quarter. Meanwhile, Toronto-based Restaurant Brands International (RBI) reported on Tuesday that its net income more than doubled in the fourth quarter, to US$726-million compared with US$336-million in the same period the prior year. And Canadian Tire Corp. reported a 67.6-per-cent decline in net income in its fourth quarter.
Also: An audit drew some sharp words, Amazon’s founder drew some raised eyebrows and Lyft drew some (brief) excitement.
1“This audit shows a glaring disregard for basic management and contracting practices.” Who said that this week?
a. Conservative leader Pierre Poilievre
b. Ontario Liberal Leader Bonnie Crombie
c. Prime Minister Justin Trudeau
d. Auditor General of Canada Karen Hogan
d. Auditor General of Canada Karen Hogan. Ms. Hogan lambasted Canada Border Services for its slipshod development of the ArriveCan app during the pandemic. The agency spend just $80,000 to create the initial version of the smartphone app, but allowed the subsequent cost to swell to an estimated $59.5-million as a result of poorly documented contracts with private developers and consultants.
2Shopify, the Canadian e-commerce company, announced earnings this week that blew away analysts’ expectations. What did its stock do?
a. It rose
b. It barely budged
c. It fell a little
d. It plunged
d. It plunged. Shopify stock tumbled 13 per cent despite double-digit revenue growth and impressive profitability. Investors were not impressed by its outlook for the months ahead.
3What is Sun Day Red?
a. Tiger Woods’ new clothing line
b. An album of pop songs from Travis Kelce, the football player who is dating Taylor Swift
c. A new TV series in which China uses a space-mounted mirror to threaten the world with solar annihilation
d. Meta Platforms’ code name for virtual reality software
a. Tiger Woods’ new clothing line. Mr. Woods ended his 27-year partnership with Nike earlier this year. The golfer is teaming up with TaylorMade Golf to develop his new line.
Even though there are less than 10,000 people in Happy Valley-Goose Bay, business is booming.
It is, at least, for entrepreneurs who identified distinct gaps in the town’s services, and jumped at the opportunity to fill them.
Business owners in the community will tell you that responding to specific needs and providing good quality work and service is enough to keep you going.
Terry Whey is one of them.
He took his shoe repair business to Happy Valley-Goose Bay in 1992 after learning the town was in need of one.
Because he was moving from St. John’s to a rural area, he was able to get a hand setting up shop from the Atlantic Canada Opportunities Agency (ACOA).
We don’t go looking for work. It just keeps coming in the door.– Terry Whey
The shoe repair shop was busy, but after a little while he learned customers were often looking for specific canvas products that weren’t locally available.
That’s when Whey’s focus shifted into manufacturing canvas tents and knapsacks, and Terry’s Tents was born.
“We don’t go looking for work. It just keeps coming in the door,” Whey said.
“I think people have seen our products and they’re happy with them, and then they just tell their friends … and sometimes good products just sell themselves.”
Whey works six days a week and hasn’t spent a dime on marketing in the last 20 years.
The work isn’t slowing down, but he is. After 32 years, Whey is preparing for retirement.
He’s trying to find a buyer for Terry’s Tents, but if he doesn’t find one his booming business will have to close its doors, and people in Happy Valley-Goose Bay will have to look elsewhere.
MÓR Meats is a specialty butcher shop in Happy Valley-Goose Bay. Owner Niamh Roche said business is good, but could be better, so she’s decided to expand. (Mór Meats/Facebook)
Niamh Roche, meanwhile, only opened her butcher shop in 2022. But after 18 months in business, she’s ready to expand.
“We feel that we’ve kind of maxed out what we can do in our current location,” Roche said.
“I feel in order for the business to survive, it really does need to take this step. It’s a huge investment for us and it’s a huge risk, but we feel that we’ve built up a strong customer base.”
Roche believes a larger and more centralized storefront
POTSDAM, NY, Jan. 26, 2024 (GLOBE NEWSWIRE) — At Clarkson University, STEM is the path forward. Science, Technology, Engineering and Math are the backbone of a Clarkson education and across its academic spectrum, STEM is the catalyst for innovation and learning.
At Clarkson, STEM means business.
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The David D. Reh School of Business is integral to Clarkson’s proven STEM-focused education, research and innovation ecosystem. Recently, the School’s Bachelor of Science in Business Analytics degree became the newest of several business programs at Clarkson to be STEM-designated.
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Clarkson’s Reh School of Business is among an elite cadre of higher education institutions that offer degrees recognized by the U.S. government as STEM-designated programs. This designation indicates an advantageous impact on both students and U.S. industry and an increased level of rigor and quantitative skill development in the curriculum.
Other STEM-designated programs within the Reh School of Business include the Bachelor of Science in Engineering and Management, Master of Science in Healthcare Data Analytics, and MBA in Business Analytics.
“The future of Clarkson is STEM. I think it’s important that we recognize the “B” in “STEM” is silent. Our business programs are STEM. They are highly analytical, highly technical and a core piece of Clarkson,” said Clarkson University President Marc P. Christensen, Ph.D., P.E. “The recognition of this STEM designation is an affirmation of what we knew to be true all along. We are ensuring that we set our students on a path to success working in business with companies that will advance technology that serves humanity.”
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“I am thrilled to announce the STEM designation for our Business Analytics program, joining a prestigious lineup that includes the BS in Engineering and Management, MBA in Business Analytics, and MS in Healthcare Data Analytics,” said Bebonchu Atems, Interim Dean of the Reh School of Business. “The expansion of STEM designation across multiple programs underscores our dedication to excellence in education, ensuring our students are equipped with the essential skills for success in a technology-driven world.”
The STEM designation provides international students with the opportunity to gain additional real-world experience in the U.S. as well. Those with a student visa can apply to extend their 12 months of optional practical training for an additional 24 months post-graduation.
Clarkson’s business programs are designed with the same STEM mindset as the corporate partners who recruit Clarkson students for industry-relevant careers.
