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Restaurant stocks have split sharply this year. And it could be tied to how many brands they own.

Shares of Brinker International, Darden Restaurants and Restaurant Brands International are up roughly 32%, 18% and 12%, respectively, year to date. Those companies all own more than one restaurant chain, with brands collectively ranging from Chili's to Olive Garden, LongHorn Steakhouse, Burger King and Tim Hortons.

Meanwhile, stocks like McDonald's, Chipotle, Cava, Wendy's, Shake Shack and Domino's have all dropped this year, with several down double-digit percentages. Those companies all have one core chain to their names.

Those share moves underscore what some analysts see as the benefits of a diversified restaurant business, especially at a time when any misstep can make cash-strapped consumers go elsewhere when they dine out.

Investors will get another look at how operating multiple chains — or not — is affecting performance when major restaurant companies report quarterly results starting next week. One company that could be watching is Inspire Brands, the owner of chains like Dunkin', Buffalo Wild Wings and Jimmy John's, which is moving toward going public.

A business built around one main restaurant concept depends more heavily on that brand holding consumers' attention, whereas a company with a portfolio has other potential sources of sales if one brand loses momentum.

That cushion can be critical, but only if another chain is strong enough to pick up the slack, according to some Wall Street analysts.

"Darden is probably the best case of the scale and size and diversity of business," said Nick Setyan, a restaurant analyst at Mizuho Securities. "If one business isn't doing well, the other ones are."

Setyan said that dynamic has played out between Darden's key brands — Olive Garden and LongHorn Steakhouse — over recent quarters. LongHorn's growth has outpaced Olive Garden's for months, and in the latest reported quarter, LongHorn's comparable sales rose 6.2% compared with Olive Garden's 1.1%.

KeyBanc Capital Markets also cited the range of Darden's portfolio as a positive in an October research note, saying it gives the company "exposure to a broad range of consumers." The company's fine dining and casual offerings can be beneficial in a K-shaped economy where consumer spending can vary by income.

The firm has a buy-equivalent rating on Darden and a $237 price target, compared with a price of around $215 as of Thursday.

Restaurant Brands International, similarly, offers exposure to different categories and markets through Burger King, Tim Hortons and Popeyes. But its portfolio does not fully insulate the company from a weak brand.

In the second quarter, Burger King's U.S. comparable sales accelerated to 8.5%, from 5.8% in the first quarter, while Tim Hortons' Canadian comparable sales slowed to just 0.1%, from 1.5% over the same period. That left Burger King's turnaround carrying more of the portfolio as Tim Hortons stalled.

Setyan said Burger King's recent strong performance has been central to the company's momentum, helped by its ability to better communicate its value items to customers as McDonald's sales growth slowed.

"If it weren't for Burger King's current performance, I don't know if [Restaurant Brands] would be going so well," he said.

Mizuho initiated coverage of Restaurant Brands on Oct. 20 with a buy-equivalent rating and an $85 price target. Shares traded at about $76 as of Thursday.

A focus on one brand can also be a strength. Starbucks and Cheesecake Factory have been restaurant-stock standouts this year, showing how a clear brand identity and investment can drive outperformance when execution and customer demand click. Their shares have climbed 21% and nearly 123%, respectively, this year.

And Starbucks, for its part, said it would not buy Chipotle after reportedly considering a massive buyout that would have diversified its business.

Restaurant Brands International (NYSE:QSR – Get Free Report) (TSE:QSR) is anticipated to post its Q3 2026 results before the market opens on Thursday, October 29th. Analysts expect the company to announce earnings of $1.08 per share and revenue of $2.54 billion for the quarter. Parties can find conference call details on the company’s upcoming Q3 2026 earnings overview page for the latest details on the call scheduled for Thursday, October 29, 2026 at 8:30 AM ET.

Restaurant Brands International (NYSE:QSR – Get Free Report) (TSE:QSR) last posted its quarterly earnings data on Thursday, August 6th. The restaurant operator reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.03. Restaurant Brands International had a net margin of 13.12% and a return on equity of 33.43%. The firm had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter last year, the company posted $0.94 EPS. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. On average, analysts expect Restaurant Brands International to post $4.19 EPS for the current fiscal year and $4.69 EPS for the next fiscal year.

Restaurant Brands International Trading Down 1.2% Shares of NYSE QSR opened at $74.19 on Thursday. Restaurant Brands International has a 1-year low of $64.52 and a 1-year high of $81.96. The company has a market cap of $25.87 billion, a PE ratio of 19.16, a P/E/G ratio of 2.02 and a beta of 0.52. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 2.49. The company has a 50-day moving average of $75.11 and a two-hundred day moving average of $75.27.

Restaurant Brands International Announces Dividend The business also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, September 18th were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Friday, September 18th. Restaurant Brands International’s dividend payout ratio is 69.89%. Wall Street Analysts Forecast Growth A number of brokerages recently weighed in on QSR. JPMorgan Chase & Co. lowered their price target on shares of Restaurant Brands International from $82.00 to $78.00 and set an “overweight” rating for the company in a report on Tuesday, September 29th. CL King set a $80.00 price objective on Restaurant Brands International in a report on Monday, August 10th. Weiss Ratings upgraded Restaurant Brands International from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 12th. Seaport Research Partners initiated coverage on Restaurant Brands International in a research report on Wednesday, September 16th. They issued a “buy” rating and a $88.00 price objective on the stock. Finally, Argus reissued a “hold” rating on shares of Restaurant Brands International in a research note on Friday, September 25th. Sixteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, Restaurant Brands International currently has an average rating of “Moderate Buy” and a consensus target price of $83.52.

Check Out Our Latest Analysis on Restaurant Brands International

Insider Transactions at Restaurant Brands International In other Restaurant Brands International news, insider Axel Schwan sold 57,574 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $81.14, for a total value of $4,671,554.36. Following the transaction, the insider directly owned 209,908 shares of the company’s stock, valued at approximately $17,031,935.12. This trade represents a 21.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.22% of the company’s stock.

Restaurant Brands International Company Profile (Get Free Report)

Restaurant Brands International Inc (NYSE:QSR) is a global quick-service restaurant company that owns and operates a portfolio of restaurant brands, primarily through franchised and licensed locations. Its brands include Tim Hortons, Burger King, Popeyes and Firehouse Subs, which serve coffee, baked goods, burgers, chicken, sandwiches and other prepared foods.

The company was formed in 2014 through the merger of Burger King Worldwide and Tim Hortons. RBI expanded its portfolio through the acquisition of Popeyes Louisiana Kitchen in 2017 and Firehouse Restaurant Group in 2021.

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Toronto, Ontario--(Newsfile Corp. - October 16, 2026) - Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company"), a leader in acquiring and scaling emerging food brands, is pleased to announce the grand opening of its 54th Heal Wellness ("Heal") location on October 17th, 2026, at 151 Crowfoot Terrace NW, Calgary, AB. Located in Crowfoot, one of northwest Calgary's premier retail and commercial destinations, this new location further strengthens Heal's presence in the province of Alberta. Heal Wellness is a quick-service restaurant ("QSR") brand specializing in fresh smoothie bowls, açaí bowls, and smoothies.

Happy Belly 1

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"The grand opening of Heal in Crowfoot marks another step forward in our expansion across Alberta, and our disciplined approach to organic growth," said Sean Black, Chief Executive Officer of Happy Belly. "Crowfoot's established residential communities, strong household incomes and active retail environment make it a compelling fit for Heal. We look forward to bringing our fresh smoothie bowls, açaí bowls and smoothies to residents and visitors seeking convenient options that complement a busy and active lifestyle."

Crowfoot serves Calgary's growing northwest communities, combining established residential neighbourhoods with a major regional shopping centre, convenient CTrain access and a broad mix of national retailers, restaurants, entertainment and professional services. Strong household incomes, daily traffic and year-round consumer activity provide an attractive setting for Heal's wellness-focused menu. The location positions the brand to serve families, commuters, students and shoppers seeking fresh, convenient food throughout the day.

Happy Belly 2

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"Alberta remains an important growth market for Heal as we continue to secure strong locations and expand our presence throughout Western Canada," added Sean Black. "Crowfoot reflects our disciplined approach to matching the brand with communities where we see a strong demographic fit and the potential to build lasting customer relationships."

Heal Wellness continues to expand across Canada and into the United States as part of Happy Belly's portfolio of emerging restaurant brands. The Company's growth strategy combines new franchise partnerships with continued investment from existing operators, supported by brand-specific operating expertise and a platform designed to help franchisees grow across multiple locations and concepts.

"We are just getting started," said Sean Black.

About Heal WellnessHeal Wellness was founded with a passion and mission to provide quick, fresh wellness foods that support a busy and active lifestyle. We currently offer a diverse range of smoothie bowls and smoothies. We take pride in meticulously selecting every superfood ingredient on our menu to fuel the body, including acai smoothie bowls, smoothies, and super-seed grain bowls. Our smoothie bowls are crafted with real fruit and enriched with superfoods like acai, pitaya, goji berries, chia seeds, and more.

FranchisingFor franchising inquiries please see www.happybellyfg.com/franchise-with-us/ or contact us at [email protected].

About Happy Belly Food GroupHappy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company") is a leader in acquiring and scaling emerging food brands across Canada.

Happy Belly Food Group Inc.

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Sean Black
Co-founder, Chief Executive Officer

Shawn Moniz
Co-founder, President

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.

Cautionary Note Regarding Forward-Looking Statements

All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company within the meaning of applicable securities laws. Forward-Looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur and include the future performance of Happy Belly and her subsidiaries. Forward-Looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the business plans for Happy Belly described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedarplus.ca.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/319337

Source: Happy Belly Food Group Inc.

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Moneyball Superscore

73/100

Today's Change

(

6.21

%) $

1.91

Current Price

$

32.68

Chipotle Mexican Grill (CMG +6.21%), a fast-casual Mexican grill, closed at $32.65, up 6.10%. The stock moved after reports said Starbucks had explored a takeover, and investors are watching the Oct. 28 earnings report and Boorito-season sales trends. Trading volume reached 63.7M shares, coming in about 271% above its three-month average of 17.2M shares. Chipotle Mexican Grill IPO'd in 2006 and has grown 3,610% since going public.

How the markets moved todayThe S&P 500 (^GSPC -0.47%) closed at 7,766, down 0.46%, while the Nasdaq Composite (^IXIC -1.25%) finished at 27,193, down 1.25%. In restaurants: limited-service, fast-casual Mexican food, McDonald's (MCD +2.61%) closed at $236.88, up 2.60%, and Restaurant Brands International (QSR +1.77%) closed at $70.65, up 1.76%, as takeover speculation kept Chipotle and related restaurant names in focus.

What this means for investorsBrian Niccol might be creating his own homecoming to Chipotle after a report surfaced that Starbucks (now helmed by Niccol) was interested in acquiring the burrito chain he once led. CMG shares popped 6% on the revelation today, after the market was largely unmoved on rumors of the deal earlier in the week.

While the idea of leveraging Niccol's experience at both restaurants makes sense, I'm not sure the deal's size or pricing works as well. Starbucks has a $107 billion market cap, but it would likely have to pay over $45 billion for the Mexican food chain, which would be tough to stomach, balance-sheet-wise.

On a personal level, one of my daughter's core positions is Chipotle, as it is one of her favorite restaurants, but I don't have a major reaction to today's news either way. I'm happy to keep holding shares of the once-high-flying growth stock for my daughter, but I am not interested in front-running a potential M&A deal.

Josh Kohn-Lindquist has positions in Chipotle Mexican Grill. The Motley Fool has positions in and recommends Chipotle Mexican Grill. The Motley Fool recommends Restaurant Brands International and recommends the following options: long January 2028 $320 calls on McDonald's, short December 2026 $38 calls on Chipotle Mexican Grill, and short January 2028 $340 calls on McDonald's. The Motley Fool has a disclosure policy.

Four fast food brands under one roof sounds like a safety net, but Tim Hortons carries so much of the weight that a slowdown in Canada could test a dividend that has never once been cut.

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Restaurant Brands International (NYSE:QSR | QSR Price Prediction) paid its latest dividend of $0.65 per share on October 2, 2026. Tim Hortons, Burger King, Popeyes and Firehouse Subs all pay into one pool. Shares closed at $69.92, down 10.57% over the past month. At that price, the $2.60 annualized payout yields about 3.7%. Do four brands give income investors four levels of protection, or just spread one consumer risk across four logos?

Royalties Generate the Cash Behind the Dividend More than 95% of RBI’s over 33,000 restaurants are franchised, generating nearly $49 billion in annual sales. Franchisees pay wages, rent and food costs. RBI takes a cut of sales, so the dividend depends on restaurant sales volume and requires little capital to keep.

In 2025, free cash flow reached $1.449 billion. Dividends used $1.108 billion of it, about 76%.

Four Logos Carrying Three Separate Risks Tim Hortons produces roughly 41% of operating profit, International about 29%, Burger King nearly 19% and Popeyes approximately 10%. Each faces distinct pressure.

Tim Hortons supply chain: RBI sells products to its Canadian franchisees, which makes money on margins, separate from royalties. Management expects those margins to land roughly in line with 2025. Canadian same-store sales slowed to 0.1% growth in Q2. Burger King turnaround: The Reclaim the Flame plan commits up to $700 million through 2028. U.S. same-store sales rose 8.5% in Q2. Carrols refranchising: RBI plans to sell a few hundred of these company-run restaurants to franchisees in 2026 and the rest in 2027. That reduces its exposure to restaurant-level costs. Popeyes same-store sales fell 5.1% in Q2.

How McDonald’s and Yum Stack Up About 95% of McDonald’s (NYSE:MCD) restaurants are franchised. The company generated $7.186 billion of free cash flow in 2025 and pays $1.86 a quarter after a 5% raise. Its net debt runs near 3.7x EBITDA, compared with RBI’s 4.1x net leverage.

Yum! Brands (NYSE:YUM) sold Pizza Hut and raised its quarterly dividend to $0.75 from $0.71. RBI is keeping Popeyes and investing to fix it.

A Payout That Has Never Been Cut RBI’s dividend has rose from $0.09 in 2015 to $0.65 with no cuts. This year’s raise lifted the quarterly payment from $0.62. In 2020, dividends of $959 million topped operating cash flow of $921 million, yet the payout still grew.

RBI plans to return $1.6 billion to shareholders in 2026, including about $500 million of buybacks. It expects $500 million to $520 million of net interest expense and around $400 million of capex and cash bonuses.

Verdict: Durable, With Clear Warning Signs The franchise structure makes this dividend durable. Royalties from more than 120 countries and territories kept the payout growing through the pandemic and now fund a Burger King overhaul. The four brands spread risk across regions, but Tim Hortons makes such a large share of profit that much of the risk sits in Canada.

Watch Tim Hortons Canada same-store sales, its supply chain margins, whether Popeyes returns to positive same-store sales, and progress toward the low to mid three times leverage target for 2028. As long as free cash flow covers the dividend before buybacks, the $0.65 payout is secure. For investors who want payers with multi-decade raise runs behind them, we ranked ten of them by valuation in a free Dividend Kings report.

Contact [email protected] for any questions or corrections.

When Jeremy Kline was 15, he started as a crew member at Taco Bell. In the decades since then, he worked his way up the restaurant industry to director of franchising for Burger King North America.

These days, he is on the other side of the aisle as one of the burger chain's newest franchisees, after buying 16 locations in the Salt Lake City area in February.

Kline is one of the new operators betting on Burger King as it embarks on a U.S. comeback. The burger chain is on track to sell about 200 company-operated restaurants to franchisees by the end of the year as part of a broader refranchising initiative, and buyers like Kline will be critical to the plan.

Since late 2022, Burger King has embarked on a turnaround strategy focused on revamping its marketing, improving food quality and renovating restaurants. The comeback has already started to pay off; Burger King recently overtook Wendy's as the number two burger chain in the U.S., based on system sales.

To accelerate the modernization of Burger King restaurants, its parent company Restaurant Brands International bought the chain's largest U.S. franchisee, Carrols Restaurant Group, in 2024 for roughly $1 billion. The Carrols deal added 1,023 company-owned locations to the 175 that Restaurant Brands already held at the time, largely acquired during franchisee bankruptcy sales as Burger King struggled before its turnaround.

Restaurant Brands always planned to sell most of those restaurants back to smaller, local franchisees. Ultimately, Burger King wants to end up with about 300 company-operated restaurants; franchisees will run the rest of its more than 6,000 locations in the U.S.

In other words, the future of Burger King rests on the shoulders of its franchisees at a time when slow traffic, elevated inflation and high interest rates make running a restaurant a challenging proposition.

"A franchising contract is 20 years. The average marriage in the U.S. is 8.2. So you got to get it right," Burger King U.S. President Tom Curtis told CNBC.

Regal returnsOver the last year, shares of Restaurant Brands have risen about 6%, lifted by strong international growth and green shoots for Burger King's U.S. comeback. For comparison, shares of rival McDonald's have tumbled 23% over the same period, although its market cap is still more than six times larger than Restaurant Brands'. In its latest quarter, Burger King reported domestic same-store sales growth of 8.5%, while McDonald's U.S. same-store sales rose just 0.8%.

Refranchising the Burger King restaurants could help send Restaurant Brands' shares even higher.

Selling off locations generates cash for the company. It also results in an asset-light model that typically means higher earnings for the chain and its parent company. And most importantly, franchisee-operated locations usually report better results than those run by a company because franchisees are personally invested in their success.

"Getting these stores in the hands of better operators is a key part of the turnaround," TD Cowen analyst Andrew Charles said.

Higher sales also mean more cash to spend on investments back into restaurants.

To be sure, it could be a while before investors see the fruits of refranchising. As the chain starts selling off company-owned locations, it is prioritizing smaller operators, a shift in strategy from the days when larger, private equity-backed franchisees like Carrols received preferential treatment.

At the time that the Carrols deal closed in 2024, Restaurant Brands said it would refranchise those restaurants over the next seven years.

Burger King initially targeted refranchising about 300 locations this year, but Curtis now expects to sell only about 200 restaurants in 2026.

One bottleneck slowing down the process is Burger King's effort to make sure that a prospective franchisee is the right fit for the chain.

Community connectionsWhen Kline was still a director of franchising for Burger King North America, his responsibilities included selling company-owned restaurants. That wasn't always an easy task.

"I was trying to sell these restaurants here in Salt Lake City for two years, and I couldn't really find anyone to buy them, but I saw the potential," Kline said.

In February, he bought those same 16 locations, which were once owned by Meridian Restaurants Unlimited. Meridian was at one time one of Burger King's biggest U.S. franchisees, with more than 120 locations across nine states before it filed for Chapter 11 bankruptcy protection in 2023.

Kline isn't the only Burger King franchisee to originate from its own ranks. Even some corporate employees from sister chain Tim Hortons have signed term sheets, according to Curtis.

To run his new franchise, Kline relocated from Miami to Salt Lake City. Local operation is another part of Burger King's refranchising strategy.

"We want franchisees who live and work in the communities that they serve," Curtis said.

Proximity means that operators will visit their restaurants frequently. Plus, complaints are more likely to come from their neighbors and acquaintances, holding them accountable for any issues in their restaurants.

That franchise policy likely means that Burger King will have fewer operators with backing from private equity firms. For more than a decade, PE firms have been buying multi-location franchisees and adding more locations, typically by buying smaller operators' restaurants and then selling the business at a higher valuation.

"I would tell you that we have less of it today than we've had in many years, and we will most likely have less of that going forward," Curtis said. "... It really needs to be a great story of a company with a great operator who's significant equity in the business, who has a long-term outlook, not a five-year plan."

For other restaurant chains, private-equity franchisees are often attractive because of their access to capital, particularly in today's high-interest rate environment. But Burger King is more focused on ensuring that its franchisees are skilled operators and that it can help set them up for financial success, Curtis said. For example, its Crown Your Career program helps restaurant leaders and managers acquire funding and financing to buy their own Burger King restaurants.

The Domino's blueprintCurtis would know what makes a good franchisee — he used to be one.

Years before he joined Burger King, he was a franchisee for about two decades with Domino's Pizza. Then he joined the pizza chain's management team, working alongside then-CEO Patrick Doyle to lead a comeback of Domino's that is still held up as one of the greatest corporate turnarounds. Doyle has been executive chair of Restaurant Brands since late 2022.

Under Doyle's leadership, Domino's revamped its pizza recipe and released an ad campaign comparing its previous crust to cardboard. Under the radar, executives were also focusing on franchisee profitability.

Burger King has taken a similar tactic, centering operators' earnings so franchisees feel comfortable reinvesting in their restaurants.

"Everything that we're doing is based around franchisee profitability," Kline said. "It's not just to drive top-line sales, it's not just to drive top-line traffic. It's not just to be able to report a huge number to the Street."

Todd Jackson, Thomas Crowson and Colby Kaminer were impressed by Burger King's management team and their vision for the chain. They acquired 20 Burger King locations in Florida in July 2025. As CKJ Management, they already had nearly two decades of experience as franchisees of Newk's Eatery, a Southern fast-casual chain.

The business partners were even more enthused after the sale closed, when they discovered from their Newk's employees how involved the franchisor's due diligence was.

"We found out that Burger King came to our restaurants and interviewed our general managers and wanted to know 'Are the owners in the restaurants? Do you know who they are, how involved they are?'" Crowson said.

Of course, not all of the refranchised locations are going to first-time Burger King franchisees.

Kevin Haas just celebrated his 40th anniversary as a Burger King franchisee in June. Several months later, Haas and his wife bought three more restaurants, formerly of Carrols, bringing K&JK Enterprises' total footprint up to 15 locations. Haas said Burger King's recent success gave him the financial means to make the acquisition.

From the ground upJust as Burger King embarks on a turnaround for its U.S. business, the chain's newest franchisees have also been trying to improve their restaurants' own results.

First-time franchisee Brian Orlando, a former executive in the consumer packaged goods industry, said that he is focused on improving the culture within his recently acquired Delaware restaurants. For example, his younger employees are often reluctant to offer the chain's signature paper crowns to diners, but Orlando is enforcing Burger King's requirement to make the gesture and embrace "the performance of hospitality."

Orlando is also part of a franchisee pilot to take all of customers' complaint phone calls on his cell phone. (Earlier this year, Burger King promoted a phone number to text and call Curtis to share their feedback.)

For CKJ Management, a shift in culture meant rebuilding its restaurant teams, from the top down, and convincing employees to believe in the Burger King brand.

"We've been up 21% year over year for our market, which is really exciting," Crowson said. "But I think the most exciting thing is we're up 16% on traffic. That's the thing for us — you can raise prices and try to grow your average check, but you can't fake traffic."

In Salt Lake City, Kline has been investing in the restaurant facilities and making sure that employees feel "like they're part of something bigger and not just another fast-food job," he said. Kline added that since he took over the restaurants eight months ago, customer complaints have fallen sharply.

Franchisees are expecting to see further improvements in sales when they remodel their locations. CKJ will need to remodel seven out of its 20 restaurants to fit Burger King's modern design standards.

Orlando will soon break ground for his only remodel, although the rest of his restaurants have recently been outfitted with Burger King's current logo.

Those renovation plans are just a small part of Burger King's overall footprint. By the end of 2028, Restaurant Brands wants 85% to 90% of the chain's domestic restaurants to look "modern." The company has committed more than $1 billion to revamp its restaurants, primarily through remodels, but also with equipment, tech and building enhancements.

Toronto, Ontario--(Newsfile Corp. - September 24, 2026) - Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company"), a leader in acquiring and scaling emerging food brands, is pleased to announce the grand opening of its 52nd Heal Wellness ("Heal") at 218 Chain Lake Drive in the Bayers Lake area of Halifax, Nova Scotia. The new location is operated by Wade Bruce, an existing multi-unit, multi-brand franchisee who already successfully operates multiple Rosie's Burger's locations in Atlantic Canada. This latest opening expands his portfolio with Happy Belly and further strengthens Heal's presence in the region. Heal Wellness is a quick-service restaurant ("QSR") brand specializing in fresh smoothie bowls, açaí bowls, and smoothies.

"Heal continues to build strong momentum across Canada as we partner with experienced operators committed to the long-term growth of our brands," said Sean Black, Chief Executive Officer of Happy Belly. " When an existing franchisee chooses to invest more of their own time and capital with us, it reflects confidence built through firsthand operating experience and a shared belief in the opportunity ahead."

"We are pleased to continue growing alongside Wade as he expands his presence in Halifax. This newest Heal location brings our fresh smoothie bowls, açaí bowls, and smoothies to Bayers Lake. Supporting our franchisees as they add locations is an important part of how we build lasting partnerships and scale our business globally."

Heal Wellness continues to expand across Canada and into the United States as part of Happy Belly's portfolio of emerging restaurant brands. The Company's growth strategy combines new franchise partnerships with continued investment from existing operators, supported by brand-specific operating expertise and a platform designed to help franchisees grow across multiple locations and concepts.

"We are just getting started," said Sean Black.

About Heal WellnessHeal Wellness was founded with a passion and mission to provide quick, fresh wellness foods that support a busy and active lifestyle. We currently offer a diverse range of smoothie bowls and smoothies. We take pride in meticulously selecting every superfood ingredient on our menu to fuel the body, including acai smoothie bowls, smoothies, and super-seed grain bowls. Our smoothie bowls are crafted with real fruit and enriched with superfoods like acai, pitaya, goji berries, chia seeds, and more.

FranchisingFor franchising inquiries please see www.happybellyfg.com/franchise-with-us/ or contact us at [email protected].

About Happy Belly Food GroupHappy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company") is a leader in acquiring and scaling emerging food brands across Canada.

Happy Belly 3

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Sean Black
Co-founder, Chief Executive Officer

Shawn Moniz
Co-founder, President

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.

Cautionary Note Regarding Forward-Looking Statements

All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company within the meaning of applicable securities laws. Forward-Looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur and include the future performance of Happy Belly and her subsidiaries. Forward-Looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the business plans for Happy Belly described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedarplus.ca.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/315831

Source: Happy Belly Food Group Inc.

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Toronto, Ontario--(Newsfile Corp. - September 18, 2026) - Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company"), a leading consolidator of emerging restaurant brands, is pleased to announce that its Heal Wellness brand ("Heal") has secured a new real-estate location in Kitchener, Ontario, for the multi-unit franchise group led by Alex Rechichi and Bedford Park Capital. The location was secured as part of Heal's largest Multi-Unit Franchise Agreement to date for 45 locations across Ontario, Manitoba, and Saskatchewan. Heal Wellness is a fast-growing quick-service restaurant ("QSR") brand specializing in fresh smoothie bowls, açaí bowls, and smoothies, built around clean ingredients and a better-for-you lifestyle.

Happy Belly 1

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6625/314953_7e32703a54428aea_002full.jpg

Located in the heart of Waterloo Region, Kitchener is a growing urban centre supported by a strong residential base, expanding commercial activity, and a diverse population of students, professionals, and families. The city benefits from one of Ontario's most significant post-secondary communities, including Conestoga College, which serves more than 20,000 registered students and operates its largest campus in Kitchener; the nearby University of Waterloo, with more than 41,000 full- and part-time students; and Wilfrid Laurier University's Waterloo campus, home to more than 17,500 undergraduate students. This substantial student population, combined with Kitchener's growing residential and employment base, creates a strong customer demographic seeking convenient, health-conscious food options that fit busy lifestyles, positioning the market well for Heal's smoothie bowls, açaí bowls, smoothies, and other better-for-you menu offerings.

"Securing this newest Heal real-estate location in Kitchener marks another important step in our Ontario expansion," said Sean Black, Chief Executive Officer of Happy Belly Food Group. "Kitchener offers a compelling growth market, supported by a rapidly expanding population, established residential and commercial communities, and one of the strongest post-secondary student populations in the province. With Conestoga College, the University of Waterloo, and Wilfrid Laurier University collectively contributing a significant student demographic across the region, Kitchener aligns well with Heal's better-for-you offering and further demonstrates the scalability of the brand in markets that combine strong local fundamentals with meaningful student demand."

"Heal Wellness continues to expand rapidly across Canada and into the United States, strengthening its position as a leading açaí and smoothie bowl brand. Heal remains a key driver of growth within Happy Belly's broader portfolio of retail franchise locations across multiple emerging brands in various stages of development, construction, and operation. We continue to build a predictable and disciplined growth engine designed to create long-term shareholder value."

"We are just getting started," added Sean Black.

About Heal Wellness
Heal Wellness was founded with a passion and mission to provide quick, fresh wellness foods that support a busy and active lifestyle. We currently offer a diverse range of smoothie bowls and smoothies. We take pride in meticulously selecting every superfood ingredient on our menu to fuel the body, including acai smoothie bowls, smoothies, and super-seed grain bowls. Our smoothie bowls are crafted with real fruit and enriched with superfoods like acai, pitaya, goji berries, chia seeds, and more.

Franchising
For franchising inquiries please see www.happybellyfg.com/franchise-with-us/ or contact us at [email protected].

About Happy Belly Food Group
Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company") is a leader in acquiring and scaling emerging food brands. The Company's portfolio includes Heal Wellness, Rosie's Burgers, Yolks Breakfast, Via Cibo Italian Street Food, iQ Food Co., and others.

Sean Black
Co-founder, Chief Executive Officer

Shawn Moniz
Co-founder, President

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.

Cautionary Note Regarding Forward-Looking Statements

All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company within the meaning of applicable securities laws. Forward-Looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur and include the future performance of Happy Belly and her subsidiaries. Forward-Looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the business plans for Happy Belly described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedarplus.ca.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/314953

Source: Happy Belly Food Group Inc.

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MIAMI, Sept. 15, 2026 /PRNewswire/ -- Restaurant Brands International Inc. ("RBI") (NYSE: QSR) (TSX: QSR) (TSX: QSP) will release its third quarter 2026 financial results on Thursday, October 29, 2026, and will host an investor conference call that morning at 8:30 a.m.

, /PRNewswire/ -- Restaurant Brands International Inc. (TSX: QSR) (NYSE: QSR) ("RBI") announced today that it has filed, and the Toronto Stock Exchange (the "TSX") has accepted, notice of RBI's intention to renew its normal course issuer bid (the "NCIB") for its common shares. The NCIB is being conducted in furtherance of RBI's board-approved share repurchase authorization that allows RBI to purchase up to U.S.$1,000 million of its common shares through September 30, 2027 (the "Repurchase Authorization").

Pursuant to the NCIB, RBI may, during the 12-month period commencing September 16, 2026 and ending on September 15, 2027, purchase up to 34,404,688 common shares, representing 10% of its public float of 344,046,880 common shares as of September 2, 2026 (a total of 348,762,825 common shares were issued and outstanding as of such date). Purchases under the NCIB will be made through the facilities of the TSX, the New York Stock Exchange (the "NYSE") and/or alternative trading systems in Canada and the U.S., if eligible, or by such other means as may be permitted by applicable securities laws, including private agreements. Any purchases made by private agreement under an issuer bid exemption order issued by a securities regulatory authority in Canada will generally be at a discount to the prevailing market price as provided in any such exemption order. In addition, RBI may also enter into derivative-based programs in support of its repurchase activities, including the writing of put options and forward purchase agreements, accelerated share repurchase transactions, other equity contracts or use other methods of acquiring shares, in each case, as may be permitted by applicable securities laws or subject to regulatory approval.

Purchases under the NCIB made on the TSX will be made in compliance with the rules of the TSX at a price equal to the market price at the time of purchase or such other price as may be permitted by the TSX. In accordance with TSX rules, any daily repurchases (other than pursuant to a block purchase exception) on the TSX under the NCIB are limited to a maximum of 274,585 common shares, which represents 25% of the average daily trading volume on the TSX of 1,098,341 for the six months ended August 31, 2026. Purchases under the NCIB made on the NYSE will be made in compliance with Securities and Exchange Commission Rule 10b-18 and U.S. federal securities laws.

Under its last NCIB which commenced on September 16, 2025 and expires on September 15, 2026 (the "2025 NCIB"), RBI previously sought and received approval from the TSX to repurchase up to 32,326,078 common shares. Up to September 10, 2026, RBI repurchased 2,910,671 common shares for cancellation under the 2025 NCIB at a weighted average price of approximately U.S.$74.97 per common share. All repurchases under the 2025 NCIB were conducted through the facilities of the NYSE, the TSX or an alternative stock exchange in the United States or Canada. 

RBI believes that the market price of common shares could be such that their purchase may be an attractive and appropriate use of corporate funds. Decisions regarding the amount and timing of future purchases of common shares will be based on market conditions, share price and other factors. RBI may elect to modify, suspend or discontinue the Repurchase Authorization, and its NCIB, at any time. Repurchases under the Repurchase Authorization will be funded using RBI's cash resources and all shares repurchased will be cancelled. RBI has also entered into an automatic purchase plan with a broker which will enable RBI to provide standard instructions in the future and then purchase common shares on the open market during self-imposed blackout periods. Outside of these blackout periods, common shares may be purchased in accordance with management's discretion.

About Restaurant Brands International

RBI is one of the world's largest quick service restaurant companies with nearly $49 billion in annual system-wide sales and over 33,000 restaurants in more than 120 countries and territories. RBI owns four of the world's most prominent and iconic quick service restaurant brands – TIM HORTONS®, BURGER KING®, POPEYES®, and FIREHOUSE SUBS®. These independently operated brands have been serving their respective guests, franchisees and communities for decades. Through its Restaurant Brands for Good framework, RBI is improving sustainable outcomes related to its food, the planet, and people and communities.

Forward-Looking Statements

This press release includes forward-looking statements and information, which are often identified by the words "may," "might," "believes," "thinks," "anticipates," "plans," "expects," "intends," or similar expressions, and reflect management's current beliefs and expectations regarding future events and operating performance and speak only as of the date hereof. These forward-looking statements include statements about RBI's expectations and beliefs regarding its normal course issuer bid purchases. These forward-looking statements are not guarantees of future events or performance and involve a number of risks and uncertainties. The factors that could cause actual results to differ materially from RBI's expectations are detailed in filings of RBI with the U.S. Securities and Exchange Commission and on SEDAR+ in Canada, such as its annual and quarterly reports and current reports on Form 8-K, and include the following: (1) the effectiveness of RBI's marketing, advertising and digital programs and franchisee support of these programs; (2) the effectiveness of RBI's operational and culinary initiatives; (3) increased commodity prices; (4) significant and rapid fluctuations in interest rates and in the currency exchange markets and the effectiveness of RBI's hedging activity; (5) changes in applicable tax laws or interpretations thereof, and RBI's ability to accurately interpret and predict the impact of such changes or interpretations on our financial condition and results; (6) RBI's supply chain operations; (7) RBI's reliance on franchisees, including master franchisees and subfranchisees, to accelerate restaurant growth and execute their development commitments (including for Burger King China); (8) RBI's relationship with, and the success of, its franchisees and risks related to RBI's franchised business model; (9) RBI's franchisees' financial stability and their ability to access and maintain the liquidity necessary to operate their businesses; (10) evolving legislation and regulations, including in the area of franchise and labor and employment law; (11) global economic or other business conditions that may affect the desire or ability of RBI's guests to purchase its products, such as inflationary pressures, high unemployment levels, declines in median income growth, consumer confidence and consumer discretionary spending and changes in consumer perceptions of dietary health, food safety, brand identity and value; (12) RBI's ability to refranchise restaurants acquired in the Carrols Acquisition and to identify and successfully consummate agreements with new partners for Popeyes China and new investors for Firehouse Subs Brazil when RBI plans to do so, and RBI's ability to subsequently sunset the RH segment; (13) the ability to access liquidity under our credit facilities and derivatives, including counterparty risks; (14) RBI's indebtedness, which could adversely affect its financial condition and prevent RBI from fulfilling its obligations; (15) tariffs and their impact on economic conditions or RBI's business; (16) RBI's ownership and leasing of real estate; (17) RBI's ability to successfully estimate the impact of certain accounting matters, including changes to factors underlying its critical accounting estimates and the price and pace of refranchisings; and (18) risks related to unforeseen events, such as natural disasters or pandemics. Other than as required under U.S. federal securities laws or Canadian securities laws, RBI does not assume a duty to update these forward-looking statements, whether as a result of new information, subsequent events or circumstances, change in expectations or otherwise.

SOURCE Restaurant Brands International Inc.

Burger King is trying to convince America it has the best burger out—and that it's worth paying for. The No. 2 U.S. burger chain by sales has charged its corporate chef with upgrading the sauces, buns and packaging for its food.

Restaurant Brands International Inc. (TSE:QSR – Get Free Report) (NYSE:QSR) Director Vicente Tome sold 2,258 shares of the business’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of C$112.93, for a total transaction of C$254,995.94. Following the completion of the transaction, the director owned 13,264 shares in the company, valued at approximately C$1,497,903.52. The trade was a 14.55% decrease in their ownership of the stock.

Shares of QSR stock opened at C$110.91 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 1.01 and a debt-to-equity ratio of 406.52. The firm has a market cap of C$38.68 billion, a P/E ratio of 29.89, a PEG ratio of 2.22 and a beta of 0.31. The company has a 50 day moving average of C$106.14 and a 200-day moving average of C$104.23. Restaurant Brands International Inc. has a 12-month low of C$84.78 and a 12-month high of C$113.10.

Restaurant Brands International Dividend Announcement The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Tuesday, July 7th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Tuesday, June 23rd. Restaurant Brands International’s payout ratio is currently 68.46%.

About Restaurant Brands International (Get Free Report) Restaurant Brands International is one of the largest restaurant companies in the world, with more than $35 billion in 2021 systemwide sales across a footprint that spans more than 28,000 restaurants and 100 countries. The firm generates revenue primarily from retail sales at its company-owned restaurants, royalty fees and lease income from franchised stores, and from its Tim Horton’s supply chain operations. Formed in 2014 after 3G Capital’s acquisition of Tim Horton’s International, the Restaurant Brands portfolio now includes Burger King (19,250 units), Tim Horton’s (5,300 units), and Popeyes Louisiana Kitchen (3,700 units).

See Also Five stocks we like better than Restaurant Brands International 3 Under-the-Radar Defense Stocks With Record Backlogs This Korea ETF Has Soared, But the Rally May Not Be Over Why Guidewire’s Post-Earnings Plunge May Not Last Ride-Share Reckoning: Tesla Drives Into Uber’s Lane Receive News & Ratings for Restaurant Brands International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Restaurant Brands International and related companies with MarketBeat.com's FREE daily email newsletter.

Toronto, Ontario--(Newsfile Corp. - September 8, 2026) - Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company"), a leading consolidator of emerging restaurant brands, is pleased to celebrate a significant milestone for its Heal Wellness brand ("Heal") with the grand openings of its 50th and 51st locations this past Saturday, September 5th, 2026. Heal's milestone 50th location opened at 255 King St, Unit 6, Waterloo, Ontario directly across from Wilfred Laurier University & University of Waterloo, while its 51st location opened at 327 Chemin du Bord-du-Lac Lakeshore, Pointe-Claire, Québec.

The Waterloo location was opened by the franchise group led by Alex Rechichi and Bedford Park Capital, which entered into Heal's largest Multi-Unit Franchise Agreement to date for 45 locations across Ontario, Manitoba, and Saskatchewan. Heal Wellness is a fast-growing quick-service restaurant ("QSR") brand specializing in fresh smoothie bowls, açaí bowls, and smoothies, built around clean ingredients and a better-for-you lifestyle.

Happy Belly 1

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6625/313329_d2b01f5e3412d97f_002full.jpg

"Reaching our 50th Heal Wellness location is a proud milestone for our team, our franchise partners, and everyone who has helped build this brand," said Sean Black, Chief Executive Officer of Happy Belly Food Group.

"It is especially meaningful to celebrate store number 50 with Alex Rechichi and Bedford Park Capital," added Sean Black. "Their commitment to Heal, and the progress we are making together, reflect exactly what our growth model is built on: experienced partners, strong brands, and disciplined execution. We are equally grateful to our Pointe-Claire multi-unit franchisee, whose continued expansion in Québec is helping strengthen Heal's growing presence in the province. This milestone reflects the collective effort across the entire brand, and we thank everyone who has played a role in helping us reach it."

Happy Belly 2

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6625/313329_d2b01f5e3412d97f_003full.jpg

"We are just getting started," said Sean Black.

"Heal Wellness continues to expand rapidly across Canada and into the United States, solidifying its position as a leading açaí and smoothie bowl brand," said Sean Black. "With 51 locations open and more than 157 in development, Heal remains a key driver of growth within Happy Belly's broader portfolio of emerging brands in various stages of development, construction, and operation. We continue to build a predictable and disciplined growth engine designed to create long-term shareholder value."

About Heal Wellness
Heal Wellness was founded with a passion and mission to provide quick, fresh wellness foods that support a busy and active lifestyle. We currently offer a diverse range of smoothie bowls and smoothies. We take pride in meticulously selecting every superfood ingredient on our menu to fuel the body, including acai smoothie bowls, smoothies, and super-seed grain bowls. Our smoothie bowls are crafted with real fruit and enriched with superfoods like acai, pitaya, goji berries, chia seeds, and more.

Franchising
For franchising inquiries please see www.happybellyfg.com/franchise-with-us/ or contact us at [email protected].

About Happy Belly Food Group
Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company") is a leader in acquiring and scaling emerging food brands across Canada.

Happy Belly Food Group

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6625/313329_d2b01f5e3412d97f_004full.jpg

Sean Black
Co-founder, Chief Executive Officer

Shawn Moniz
Co-founder, President

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.

Cautionary Note Regarding Forward-Looking Statements

All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company within the meaning of applicable securities laws. Forward-Looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur and include the future performance of Happy Belly and her subsidiaries. Forward-Looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the business plans for Happy Belly described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedarplus.ca.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/313329

Source: Happy Belly Food Group Inc.

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Toronto, Ontario--(Newsfile Corp. - August 31, 2026) - Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company"), a leading consolidator of emerging restaurant brands, is pleased to announce that its Heal Wellness ("Heal") quick-service restaurant ("QSR") brand has secured a new real-estate location in Belleville, Ontario, for the multi-unit franchise group led by Alex Rechichi and Bedford Park Capital. The location was secured as part of Heal's largest Multi-Unit Franchise Agreement to date for 45 locations across Ontario, Manitoba, and Saskatchewan. Heal Wellness is a fast-growing QSR brand specializing in fresh smoothie bowls, açaí bowls, smoothies, and other better-for-you menu offerings built around clean ingredients and an active lifestyle.

Happy Belly 1

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6625/312129_a8bb7bdb04da2a90_002full.jpg

Located in southeastern Ontario along the Bay of Quinte, Belleville is a growing regional centre with a strong residential base, established commercial activity, and convenient access to the Highway 401 corridor. The city is home to Loyalist College's Belleville campus, whose student community adds a meaningful customer demographic to the market seeking convenient and better-for-you food options that fit busy student schedules. Combined with Belleville's population the presence of Loyalist College further strengthens the market for Heal's smoothie bowls, açaí bowls, and smoothies menu offerings.

"Securing this newest Heal real-estate location in Belleville marks another important step in our Ontario expansion," said Sean Black, Chief Executive Officer of Happy Belly Food Group. "Belleville provides a compelling platform with its growing population, established residential communities, and strong student community. Combined with the city's connectivity across southeastern Ontario, these market fundamentals align well with Heal's offering and further demonstrate the scalability of the brand across communities that combine strong local demographics with meaningful student populations."

Happy Belly 2

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6625/312129_a8bb7bdb04da2a90_003full.jpg

"Heal Wellness continues to expand rapidly across Canada and into the United States, strengthening its position as a leading açaí and smoothie bowl brand," said Sean Black. "Heal remains a key driver of growth within Happy Belly's broader portfolio of retail franchise locations across multiple emerging brands in various stages of development, construction, and operation. We continue to build a predictable and disciplined growth engine designed to create long-term shareholder value."

"We are just getting started," said Sean Black.

About Heal Wellness
Heal Wellness was founded with a passion and mission to provide quick, fresh wellness foods that support a busy and active lifestyle. We currently offer a diverse range of smoothie bowls and smoothies. We take pride in meticulously selecting every superfood ingredient on our menu to fuel the body, including acai smoothie bowls, smoothies, and super-seed grain bowls. Our smoothie bowls are crafted with real fruit and enriched with superfoods like acai, pitaya, goji berries, chia seeds, and more.

Franchising
For franchising inquiries please see www.happybellyfg.com/franchise-with-us/ or contact us at [email protected].

About Happy Belly Food Group
Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company") is a leader in acquiring and scaling emerging food brands across Canada.

Happy Belly 3

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6625/312129_a8bb7bdb04da2a90_004full.jpg

Sean Black
Co-founder, Chief Executive Officer

Shawn Moniz
Co-founder, President

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.

Cautionary Note Regarding Forward-Looking Statements

All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company within the meaning of applicable securities laws. Forward-Looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur and include the future performance of Happy Belly and her subsidiaries. Forward-Looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the business plans for Happy Belly described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedarplus.ca.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/312129

Source: Happy Belly Food Group Inc.

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Shares of Chinese hotpot chain Haidilao International rose 7% in Hong Kong on Wednesday, after the company's first-half results revealed delivery revenue more than doubled.

The results, released on Tuesday, showed Haidilao's revenue rose 7.9% year-on-year to 22.34 billion yuan ($3.32 billion) in the six months to June, while core operating profit, a non-IFRS measure, rose 4.4% to 2.51 billion yuan.

Delivery was Haidilao's fastest-growing business segment, with revenue jumping 121.2% to 2.05 billion yuan, driven mainly by rapid growth in its single-serving fast-food business and the expansion of its delivery network through more local hubs.

Revenue from Haidilao-branded restaurants, which accounted for 79.9% of group sales, fell 4% to 17.84 billion yuan, mainly due to a decline in the number of self-operated restaurants.

As of the end of June, Haidilao operated 1,389 restaurants under its core hotpot brand, and 183 restaurants across 21 other catering brands.

What is driving Haidilao's growth?Revenue from other restaurant operations surged 113.1% to 1.27 billion yuan, which Haidilao attributed to the development of catering brands under its "Pomegranate Plan" to explore new catering formats and contributions from dining scenarios, including camping hotpot and late-night hotpot.

The company said its food-stall hotpot and sushi formats have developed relatively mature single-restaurant models and entered the stage of "large-scale replication," with plans to progressively scale them up from the second half of this year, becoming a significant source of revenue growth for its other restaurant operations in 2027.

In a note after the earnings, Citi said Haidilao's first-half operating profit before other income rose 13% from a year earlier, coming in 6% above its expectations.

The bank also noted that Haidilao's seafood-stall hotpot and sushi formats should start scaling up in the second half of 2026, while Haidilao-branded store openings are expected to accelerate in 2027, with likely accelerated topline growth next year. The bank maintained its buy rating.

Burger King wants its nuggets to reign supreme.

After striking gold with its revamped Whopper, Burger King is turning its attention to chicken nuggets – a menu item that customers have lambasted as being too dry and flavorless.

Starting next Tuesday, new-and-improved chicken nuggets will be landing on Burger King menus, along with a revamped sauce lineup including honey mustard, buffalo, sweet & sour and a limited-time “special savory sauce.”

The new nuggets will set you back around $1.99 for a quartet to $7.49 for a 20-piece.

Starting Sept. 1, new-and-improved chicken nuggets will be landing on Burger King menus. Burger King “We take guest feedback seriously, and when we received thousands of texts, calls, and comments telling us our nuggets needed a total overhaul, we listened,” Amy Alarcon, head chef at Burger King US and Canada, said in a statement.

An in-depth analysis ensued, the exec recounted.

“Our culinary team evaluated every element of the experience, from the chicken and breading to the sauces that bring it all together,” Alarcon boasted.

She went on to say the fast food chain got “real guests – including some of our toughest critics, kids” to scarf the new nuggets until Burger King got the recipe just right.

It’s part of a multiyear turnaround strategy that has already started to pay off for Burger King, after it revamped its Whopper with a “premium” bun, “better-tasting mayo” and a box container instead of a paper wrapper, to keep the burger from getting soggy.

In the previous quarter, Burger King saw its US same-store sales surge 8.5% – outpacing McDonald’s, which saw just 0.8% growth, by the largest margin in more than a decade.

It also zoomed past Wendy’s to become the country’s second-biggest burger chain, effectively winning the burger battle that took off after the pandemic as cash-strapped customers have remained hesitant to spend at the drive-thru.

To kick off its turnaround efforts, Burger King in February launched a listening initiative, sharing a phone number that customers could use to call or text feedback.

In the spring, the burger slinger re-launched crown-shaped chicken nuggets in an effort to appeal to customer nostalgia.

To kick off its turnaround efforts, Burger King in February launched a listening initiative. Getty Images Critics online were quick to bash the returned item, saying it had the same shape it did in years past but a terrible new recipe – with one Facebook user calling it “artificial mush meat.”

The recipe misfired so badly that thousands of customers took the time to hit the hotline to whine about the “rubbery,” “dry” and “disappointing” product.

Burger King President Tom Curtis told The Post in June that the nuggets are the one menu item he won’t be indulging in anytime soon.

“We can do better, and we will. I want a meatier, crispier nugget and sauces that make my taste buds dance. The team is on it,” Curtis said at the time.

Burger King’s new chicken nuggets could help the chain draw in more families and increase check size. Getty Images The fast-food industry has been leaning into chicken-based menu items as customers search for cheaper options, while beef prices are surging amid historic cattle shortages. American shoppers have also been prioritizing healthier alternatives to red meat.

Taco Bell recently launched its own chicken nuggets, McDonald’s released new chicken tenders and KFC opened spinoff Saucy restaurants that focus on chicken tenders and a sweeping range of dipping sauces.

Burger King’s new chicken nuggets could help the chain draw in more families and increase check size, since small orders of nuggets are an easy add-on to other menu items.

As part of its turnaround strategy, Burger King has also implemented a new “Whopper Guarantee,” remaking burgers and offering a free sandwich on the next order for dissatisfied customers, and “Your Way Champions,” a new managerial role focused on the customer experience.

Burger King was founded in 1951 and has over 19,000 locations across more than 120 countries and US territories, the vast majority of which are owned and operated by independent franchisees.

Toronto, Ontario--(Newsfile Corp. - August 21, 2026) - Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company"), a leading consolidator of emerging restaurant brands, is pleased to announce that its Heal Wellness brand ("Heal") will celebrate the grand opening of its newest location in Sylvan Lake, Alberta, this Saturday, August 22nd, at 5003 Lakeshore Drive. The location is owned and operated by an existing Heal franchisee as they expand their relationship with the brand as a multi-unit franchisee. The opening further advances Heal's disciplined, asset-light growth strategy as the brand continues to expand across Alberta's high-growth urban and suburban markets. Heal Wellness is a fast-growing quick-service restaurant ("QSR") brand specializing in fresh smoothie bowls, açaí bowls, and smoothies, built around clean ingredients and a better-for-you lifestyle.

Happy Belly 1

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"The grand opening of our newest location in Sylvan Lake reflects our continued focus on expanding Heal into strong, community-oriented markets with favorable demographic and traffic fundamentals," said Sean Black, Chief Executive Officer of Happy Belly Food Group. "This opening is especially meaningful as it is being led by an existing franchise partner who is expanding with us as a multi-unit franchisee, which is a strong validation of the brand, our model, and the opportunity ahead."

Sylvan Lake, Alberta, combines a growing local customer base with steady tourism demand and a lifestyle that naturally aligns with health, recovery, and wellness. With its lakefront identity, recreation, family-friendly tourism, locally owned shops, and a young, active community, Sylvan Lake is a natural fit for Heal's açaí and smoothie wellness offering. The location will serve residents, weekend visitors, athletes, busy parents, and vacationers seeking convenient, health-forward food options.

Heal Wellness continues to gain momentum as consumer demand for wellness-focused QSR concepts grows across Canada. With a scalable format, strong unit economics, and an expanding network of experienced franchise partners, Heal is well positioned to deepen its presence across Western Canada while continuing its expansion into additional Canadian and U.S. markets. The Sylvan Lake grand opening is another milestone in that growth strategy and demonstrates the continued momentum of Heal's franchise network delivering measurable results as we expand our brands across Canada and the U.S. to create long-term value for our shareholders.

Happy Belly 2

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"We are just getting started," said Sean Black.

About Heal Wellness
Heal Wellness was founded with a passion and mission to provide quick, fresh wellness foods that support a busy and active lifestyle. We currently offer a diverse range of smoothie bowls and smoothies. We take pride in meticulously selecting every superfood ingredient on our menu to fuel the body, including acai smoothie bowls, smoothies, and super-seed grain bowls. Our smoothie bowls are crafted with real fruit and enriched with superfoods like acai, pitaya, goji berries, chia seeds, and more.

Franchising
For franchising inquiries please see www.happybellyfg.com/franchise-with-us/ or contact us at [email protected].

About Happy Belly Food Group
Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company") is a leader in acquiring and scaling emerging food brands across Canada.

Happy Belly 3

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Sean Black
Co-founder, Chief Executive Officer

Shawn Moniz
Co-founder, President

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.

Cautionary Note Regarding Forward-Looking Statements

All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company within the meaning of applicable securities laws. Forward-Looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur and include the future performance of Happy Belly and her subsidiaries. Forward-Looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the business plans for Happy Belly described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedarplus.ca.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/310749

Source: Happy Belly Food Group Inc.

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Empowered Funds LLC trimmed its position in Restaurant Brands International Inc. (NYSE:QSR – Free Report) (TSE:QSR) by 59.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,396 shares of the restaurant operator’s stock after selling 16,719 shares during the period. Empowered Funds LLC’s holdings in Restaurant Brands International were worth $842,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NewEdge Advisors LLC grew its stake in Restaurant Brands International by 4.8% during the 1st quarter. NewEdge Advisors LLC now owns 6,126 shares of the restaurant operator’s stock valued at $453,000 after purchasing an additional 279 shares during the last quarter. Glenmede Trust Co. NA purchased a new position in shares of Restaurant Brands International in the first quarter worth about $1,462,000. Western Wealth Management LLC purchased a new position in shares of Restaurant Brands International in the first quarter worth about $28,000. Bank of America Corp DE raised its stake in shares of Restaurant Brands International by 143.9% in the first quarter. Bank of America Corp DE now owns 4,932,662 shares of the restaurant operator’s stock worth $364,524,000 after purchasing an additional 2,910,454 shares during the last quarter. Finally, Strategic Investment Advisors MI boosted its position in Restaurant Brands International by 77.3% in the first quarter. Strategic Investment Advisors MI now owns 10,946 shares of the restaurant operator’s stock valued at $810,000 after buying an additional 4,772 shares during the last quarter. Hedge funds and other institutional investors own 82.29% of the company’s stock.

Wall Street Analysts Forecast Growth Several brokerages recently weighed in on QSR. JPMorgan Chase & Co. increased their price target on shares of Restaurant Brands International from $77.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Morgan Stanley lifted their price objective on shares of Restaurant Brands International from $78.00 to $79.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 15th. Scotia cut their price objective on shares of Restaurant Brands International from $83.00 to $81.00 and set a “sector perform” rating on the stock in a research note on Friday, August 7th. Citigroup cut their price objective on shares of Restaurant Brands International from $84.00 to $78.00 and set a “neutral” rating on the stock in a research note on Friday, July 24th. Finally, Piper Sandler reduced their target price on shares of Restaurant Brands International from $85.00 to $81.00 and set an “overweight” rating for the company in a report on Friday, August 7th. Sixteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, Restaurant Brands International presently has an average rating of “Moderate Buy” and an average target price of $83.70.

View Our Latest Stock Analysis on Restaurant Brands International Restaurant Brands International Trading Down 0.6% Restaurant Brands International stock opened at $77.16 on Tuesday. The firm has a market cap of $26.95 billion, a PE ratio of 20.74, a P/E/G ratio of 2.11 and a beta of 0.50. Restaurant Brands International Inc. has a 12 month low of $61.33 and a 12 month high of $81.96. The stock’s 50 day simple moving average is $74.13 and its two-hundred day simple moving average is $73.97. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 2.49.

Restaurant Brands International (NYSE:QSR – Get Free Report) (TSE:QSR) last posted its earnings results on Thursday, August 6th. The restaurant operator reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.03. Restaurant Brands International had a net margin of 13.12% and a return on equity of 33.43%. The firm had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same period in the previous year, the firm earned $0.94 EPS. The business’s quarterly revenue was up 4.6% on a year-over-year basis. Analysts anticipate that Restaurant Brands International Inc. will post 4.03 earnings per share for the current year.

Restaurant Brands International Announces Dividend The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 18th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 3.4%. The ex-dividend date is Friday, September 18th. Restaurant Brands International’s dividend payout ratio (DPR) is currently 69.89%.

(Free Report)

Restaurant Brands International Inc (NYSE: QSR) is a global quick-service restaurant company formed through the combination of established brands. The company’s principal holdings include Burger King, Tim Hortons and Popeyes, each of which operates under its own brand identity and menu. Restaurant Brands International’s business is centered on developing and expanding these franchised restaurant systems, supporting franchisees with brand management, supply chain coordination, and marketing programs.

RBI’s restaurants offer a range of quick-service food and beverage products: Burger King is known for its flame-grilled hamburgers and sandwiches, Tim Hortons for coffee, baked goods and breakfast items, and Popeyes for Louisiana-style fried chicken and seafood.

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Marcin Golba/NurPhoto via Getty Images The burger wars are heating up.

Burger King's second-quarter US same-store sales jumped 8.5%, while McDonald's growth lagged at 0.8% and Wendy's went backward, falling 7%.

It's not just a win for Burger King's new strategy (more on that in a bit). It shows the burger wars are alive and well, writes BI's Alex Bitter.

A big reason for the reignited competition is rising prices. Fast food is no longer something you can grab with the quarters stuck at the bottom of your car cup holder.

When the dollar menu becomes the three-dollar menu, people get pickier. The most convenient option — often McDonald's because its US footprint is about twice the size of Wendy's and Burger King — is no longer viewed as the best.

That theme came up repeatedly in our reader survey last week about McDonald's: A restaurant meant to feel like a value no longer fits the bill.

Customers are open to options on either end of the pricing spectrum. For those looking for cheaper choices, gas stations and convenience stores suddenly become a viable pick. (For me, Wawa is the destination, not a stop along the way.)

And if you're willing to up the ante, a casual sit-down restaurant isn't much more expensive these days. Chili's, for example, has done a good job creating a dupe of the McDonald's Quarter Pounder.

The end result is a burger environment that feels out of whack for longtime insiders.

"The fact that you even put Chili's as a rival to McDonald's — we would've never said that before," Mike Perry, founder of Tavern, an agency working with restaurant and hospitality clients, told Alex.

So, how has Burger King stepped up its game?

It all started earlier this year with a new ad campaign.

CMO Insider's Lara O'Reilly covered how Burger King's splashy Oscar's ad was a big hit. The pitch was simple: Acknowledge it screwed up and wasn't meeting customers' expectations. It even fired the King himself! (You can watch the entire ad here.)

At the same time, Burger King revamped its famous Whopper. And it didn't just change the ingredients. Whoppers are now packaged in a box instead of a wrapper, because smashed burgers are only good when you order them that way.

You can read Erin McDowell's full review here.

Early signs point to a winner. Whopper sales are up 20% compared to the old version.

Because losing the King didn't mean Burger King couldn't make a play for the crown.

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, /CNW/ -- Restaurant Brands International Inc. ("RBI" or the "Company") (NYSE: QSR) (TSX: QSR) announced today that Restaurant Brands International Limited Partnership ("RBI LP") has received an exchange notice from 3G Restaurant Brands Holdings LP ("RBH"), an affiliate of 3G Capital Partners Ltd. ("3G Capital"), to exchange 2,784,549 Class B exchangeable limited partnership units of RBI LP (the "Exchangeable Units").

RBI LP intends to satisfy this notice with the repurchase of these Exchangeable Units for cash, using available cash on hand. Once the exchange is settled, the Exchangeable Units will be cancelled, decreasing the fully diluted common shares of RBI by the same number of Exchangeable Units. On an as adjusted basis after giving effect to the exchange, RBH will hold approximately 21% of RBI's fully diluted common shares.

The exchange date is scheduled to occur on August 31, 2026, and the repurchase of Exchangeable Units for cash will be based on the 20-day volume weighted average price of the Company's common shares traded on the NYSE in US dollars, in accordance with the terms of the limited partnership agreement of RBI LP. The exchange notice is irrevocable.

About Restaurant Brands International Inc. 
Restaurant Brands International Inc. is one of the world's largest quick service restaurant companies with nearly $49 billion in annual system-wide sales and over 33,000 restaurants in more than 120 countries and territories. RBI owns four of the world's most prominent and iconic quick service restaurant brands – TIM HORTONS®, BURGER KING®, POPEYES®, and FIREHOUSE SUBS®. These independently operated brands have been serving their respective guests, franchisees and communities for decades. Through its Restaurant Brands for Good framework, RBI is improving sustainable outcomes related to its food, the planet, and people and communities.

Forward-Looking Statements
This press release includes forward-looking statements, which are often identified by the words "may," "might," "believes," "thinks," "anticipates," "plans," "expects," "intends" or similar expressions and reflect management's expectations regarding future events and operating performance and speak only as of the date hereof. These forward-looking statements include statements about RBI's expectations and beliefs regarding its ability to complete the cash repurchase of Exchangeable Units, and the anticipated source of funds to fund the repurchase. The factors that could cause actual results to differ materially from RBI's expectations are detailed in filings of RBI with the U.S. Securities and Exchange Commission and on SEDAR+ in Canada, such as its annual and quarterly reports and current reports on Form 8-K. RBI undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date hereof.

SOURCE Restaurant Brands International Inc.

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Wendy’s has lost its place as America’s runner-up to McDonald’s, ending a six-year run as the second-largest burger chain, being surpassed by a resurgent Burger King.

Burger King reclaimed the No. 2 position as its U.S. turnaround gains momentum, with domestic same-store sales jumping 8.5% in the second quarter. Wendy’s, meanwhile, reported a 7% decline in U.S. same-store sales, marking its sixth consecutive quarter of contraction.

Wendy’s new CEO Bob Wright acknowledged the chain’s problems Friday, saying its competitive edge has weakened as customers have pulled back.

“Today we are clearly not performing at our potential,” he wrote in a statement.

“Our traffic, our value proposition and franchisee economics are not meeting our expectations. We have already begun taking action across five areas that we’ve identified to drive the turnaround: rebuilding a quality menu at compelling value, marketing that drives demand, operational excellence, a digital experience that builds frequency, and restaurants as an engine for growth.”

Burger King’s comeback is fueled by an 8.5% jump in US same-store sales, while Wendy’s saw a 7% decline. jetcityimage – stock.adobe.com McDonald’s remains the dominant U.S. burger chain by a wide margin, leaving Burger King and Wendy’s fighting for a distant second place.

Wendy’s had surpassed Burger King roughly six years ago, helped by the successful nationwide rollout of its breakfast menu. But its hold on the No. 2 spot has eroded as Burger King poured money into improving restaurants, advertising and its core menu.

Restaurant Brands International, Burger King’s parent company, launched a broad U.S. turnaround effort in late 2022 after sluggish sales. The strategy has included restaurant remodels, increased marketing spending and changes intended to improve food quality and the customer experience.

More recently, Burger King has focused on its signature Whopper.

The chain revamped the burger earlier this year, making changes to its bun, packaging, mayonnaise and other elements. Burger King U.S. and Canada President Tom Curtis told The Wall Street Journal that the improvements are helping bring customers back.

“A lot of people are saying they’re coming back for the first time in a long time,” Curtis said.

Wendy’s just got dethroned as America’s second-biggest burger chain after six years, with Burger King sizzling back into the No. 2 spot. Mahmoud Suhail – stock.adobe.com Burger King has also introduced a Whopper quality guarantee, pledging to remake an order if a customer is unhappy with it and provide another Whopper free on a future visit.

“When we asked guests where we could do better, they gave us a lot of honest feedback, and now it’s our responsibility to act on it,” Curtis wrote in a statement in July. “We’re not going to get everything right every single time, but we’re committed to listening intently and improving every day.

“When guests choose us, they expect high-quality food, orders made the way they asked, and a team that’s there when they need us. That’s what these changes are about. We’re raising the standard in our restaurants, so every Guest feels like they made the right choice.”

Curtis said the chain believes it is taking market share from competitors, including potentially McDonald’s, and sees an opportunity to turn newly won customers into regulars.

“The next generation of burger lovers are being exposed to Burger King, and that means we’ve got runway ahead for years to come,” Curtis told the Journal.

The gains underscore a sharp reversal in fortunes for two longtime rivals that have wrestled with many of the same pressures in recent years.

Wendy’s has lost its place as America’s runner-up to McDonald’s, ending a six-year run as the second-largest burger chain, being surpassed by a resurgent Burger King. FOTO_STOCKER – stock.adobe.com Both companies navigated the COVID-19 pandemic, supply-chain disruptions and rising food and labor costs before confronting increasingly price-conscious consumers frustrated by years of restaurant menu inflation.

Burger King responded with its multiyear turnaround campaign. Wendy’s, by contrast, has faced leadership turnover just as restaurant traffic weakened and beef costs added pressure to its business.

Longtime Wendy’s CEO Todd Penegor retired in 2024 after eight years at the helm. Former PepsiCo executive Kirk Tanner succeeded him but left a little more than a year later to become CEO of Hershey.

Wendy’s CFO Ken Cook then served as interim chief executive before the company named Wright, the former CEO of Potbelly, to the permanent job in May.

“I returned to Wendy’s because I believe we can fix our issues and I am excited to work with our team and our franchisees to drive a strong turnaround,” Wright wrote in Friday’s release of second quarter results.

TickerSecurityLastChangeChange %MCDMCDONALD’S CORP.274.48-1.78-0.64%QSRRESTAURANT BRANDS INTERNATIONAL INC.73.89+0.97+1.33%WENTHE WENDY’S CO.7.69+0.30+4.06%SHAKSHAKE SHACK71.13+0.89+1.27%JACKJACK IN THE BOX INC.17.58+0.20+1.15%YUMYUM! BRANDS INC.150.76-1.52-1.00% He said Wendy’s recent problems have hurt customer traffic and put pressure on restaurant economics, an increasingly important issue for a largely franchised chain whose operators must absorb higher costs while competing aggressively for value-conscious diners.

Burger King’s improvement also comes as McDonald’s works through challenges in its own U.S. operation. McDonald’s has been revamping its burgers, testing new menu items and looking for ways to improve food quality, service and value.

Still, Burger King’s move ahead of Wendy’s does not put it close to overtaking the Golden Arches.

McDonald’s accounted for about 48% of the U.S. burger market in 2024, according to Barclays data. Wendy’s held an estimated 11.4% share at the time, compared with about 10% for Burger King.

Is Wingstop's Growth Story Losing Steam?Restaurant Brands International NYSE: QSR reported second-quarter results that showed continued sales and earnings growth, led by Burger King U.S. and its international operations, while Tim Hortons Canada posted nearly flat comparable sales and Popeyes remained under pressure.

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Chief Executive Officer Josh Kobza said the company generated 3.8% systemwide comparable-sales growth and 2.9% net restaurant growth in the quarter ended June 30. Those results drove 6.4% systemwide sales growth, 6.7% organic adjusted operating income growth and 12.9% adjusted earnings-per-share growth.

MarketBeat Week in Review – 06/29 - 07/03Adjusted EPS rose to $1.07 from $0.94 a year earlier. Kobza said the company has exceeded its long-term 3% same-store sales growth algorithm for three consecutive quarters and returned $435 million of capital to shareholders during the quarter.

Burger King U.S. Extends Momentum Burger King was the company’s strongest major domestic contributor in the quarter. The brand posted 8.6% comparable-sales growth and 8.2% systemwide sales growth. U.S. same-store sales increased 8.5%, outperforming the burger quick-service restaurant industry by more than nine percentage points, according to Kobza.

Burger King’s Turnaround Is Putting Restaurant Brands Back in FocusThe performance followed the rollout of Burger King’s Whopper and brand-elevation campaigns, part of the company’s multiyear “Reclaim the Flame” turnaround strategy. Kobza said the company has expanded its focus to service through its “Your Way Champion” restaurant leadership role and a Whopper Guarantee that promises a replacement Whopper and another sandwich if a guest’s order does not meet standards.

The company said average unit volumes for its Whopper platform have grown more than 20% since the elevation campaign began. Burger King also reported that Kids Meal average unit volumes exceeded 28 per day in the second quarter, up nearly 50% from 2022, following a Mandalorian-themed promotion.

Executive Chairman J. Patrick Doyle said the brand’s gains reflect cumulative work on operations, food, marketing, restaurant image and franchisee quality rather than a single promotion. He said the company still sees opportunities to modernize additional restaurants, improve operations and further elevate menu offerings.

On refranchising, Chief Financial Officer Sami Siddiqui said Restaurant Brands began selling acquired Carrols restaurants to franchisees earlier than originally expected. While second-quarter activity was slower than anticipated, he said the pipeline of prospective buyers has more than doubled since the company’s investor day. Restaurant Brands expects to refranchise a few hundred restaurants in 2026 and the remainder in 2027, with the goal of winding down the Restaurant Holdings segment by the end of 2027.

International Growth Offsets Mixed Brand Results Restaurant Brands’ international business delivered 5.5% comparable-sales growth and 5.1% net restaurant growth, producing 10.7% systemwide sales growth. Kobza cited strength in Burger King markets including Germany, Spain, Brazil, China, South Korea and Japan.

He said Burger King China recorded another quarter of double-digit comparable-sales growth under operator CPE, alongside sequential improvement in unit economics. The company views China as an important part of its path toward 5% net restaurant growth by 2028.

The company also highlighted international Popeyes results, noting that Brazil’s Popeyes comparable sales were up more than 20% year to date, following roughly 20% growth in 2025. Firehouse Subs, meanwhile, recently launched in Australia.

Siddiqui said the company’s top 10 Burger King international growth markets have average new-unit paybacks of between four and five years, with returns improving. He said that excluding China, Burger King’s international average restaurant sales are similar to those in the U.S., while paybacks in the top international growth markets are better than U.S. paybacks.

Tim Hortons and Popeyes Address Near-Term Challenges Tim Hortons Canada posted comparable-sales growth of 0.1%, though Kobza said performance improved as the quarter progressed. He attributed the softer quarter in part to a calendar that did not match the prior year’s major platform launches and marketing that did not perform as expected.

The company plans to support the second half with a Harry Potter-themed “Back to Hogwarts” campaign, breakfast innovation, a holiday partnership and expanded beverage offerings. Tim Hortons recently launched matcha nationally and is rolling out fountain equipment to support cold beverages such as Soda Swirls. It also plans a loyalty partnership with Canadian Tire that will allow customers to link Triangle Rewards and Tims Rewards accounts.

Despite the subdued comparable-sales performance, Restaurant Brands plans approximately 80 gross Tim Hortons openings in Canada this year, compared with more than 50 last year. Kobza said the new drive-thru restaurants generally offer paybacks of less than three years.

Popeyes U.S. systemwide sales declined 3.3%, as 0.3% net restaurant growth was more than offset by a 5.2% same-store sales decline. Kobza said the company is focused on improving restaurant operations and service, emphasizing core products and maintaining clear value offerings.

Popeyes completed the systemwide rollout of an improved tender specification and introduced value platforms including $5 Faves, a $6 Big Box and a $20 Family Meal. Kobza said product satisfaction, guest complaints and order errors have moved in the right direction, and the company remains confident Popeyes can return to positive comparable sales in the second half of 2026.

Cash Flow, Capital Returns and Outlook Restaurant Brands generated $501 million in free cash flow during the second quarter, including $62 million of capital expenditures and cash inducements. It repurchased $137 million of stock and said it remains on track to repurchase about $500 million of shares for the full year.

The company ended the quarter with about $2.3 billion in liquidity, including $1.1 billion of cash, and net leverage of 4.1 times. Siddiqui noted that S&P upgraded the company to BB+ in May. Restaurant Brands continues to target corporate investment-grade leverage by 2028, or a low- to mid-three-times net leverage ratio.

Full-year segment G&A, excluding Restaurant Holdings: $600 million to $620 million. Net adjusted interest expense: $500 million to $520 million. Capital expenditures and cash inducements: about $400 million. Adjusted effective tax rate: 18% to 19%. Foreign exchange headwind expected in the second half: about $10 million to adjusted operating income and $0.02 to $0.03 to adjusted EPS. Siddiqui said the company remains on track to deliver 8% organic adjusted operating income growth in 2026.

About Restaurant Brands International (NYSE:QSR)Restaurant Brands International Inc NYSE: QSR is a global quick-service restaurant company formed through the combination of established brands. The company's principal holdings include Burger King, Tim Hortons and Popeyes, each of which operates under its own brand identity and menu. Restaurant Brands International's business is centered on developing and expanding these franchised restaurant systems, supporting franchisees with brand management, supply chain coordination, and marketing programs.

RBI's restaurants offer a range of quick-service food and beverage products: Burger King is known for its flame-grilled hamburgers and sandwiches, Tim Hortons for coffee, baked goods and breakfast items, and Popeyes for Louisiana-style fried chicken and seafood.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Should You Invest $1,000 in Restaurant Brands International Right Now?Before you consider Restaurant Brands International, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Restaurant Brands International wasn't on the list.

While Restaurant Brands International currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

The AI boom extends far beyond the biggest tech names. Discover 10 companies supplying the memory, storage, networking, semiconductor manufacturing, and power infrastructure that make AI possible. Learn where the next wave of AI investment opportunities may emerge—and the key risks investors should watch as the global AI buildout accelerates.

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The CNBC Business News Update with Peter Schacknow features market numbers & news with CNBC expert analysis and sound from top business names. Updated throughout the business day.