- Restaurant Brands International Inc QSR said its fast-food hamburger chain Burger King is planning to spend $400 million in two years on advertising and renovation of its restaurants.
- The move is a part of its 'Reclaim the Fame' strategy to revive sales in the U.S.
- The investment includes $150 million in advertising and digital investments and $250 million in technology developments.
- Burger King Franchisees representing more than 93% of all U.S. restaurants have endorsed the plan and have agreed to co-invest in increased advertising.
- "Our plan is focused on a few important priorities — operational excellence, refreshed image, and enhanced marketing — that when put together, provide a superior experience for our Guests," said Burger King North America president Tom Curtis.
- In 2023 and 2024, QSR expects these investments to have an average annual impact to adjusted EPS of approximately ($0.10) to ($0.12), before considering benefits from any potential sales improvements.
- The company expects the impact to be accretive to adjusted EPS in 2025 and beyond.
- Price Action: QSR shares closed higher by 0.51% at $60.89 on Friday.
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