Burger King, a fast-food restaurant company owned by Restaurant Brands International Inc (NYSE: QSR), announced plans to invest $400 million on advertising and restaurant renovations over the next two years.
Its 'Reclaim the Fame' campaign, which aims to boost sales in the US, includes the action.
Its 'Reclaim the Fame' campaign, which aims to boost sales in the US, includes the action.The investment consists of $250 million in technology advancements, as well as $150 million in advertising and digital efforts.
Extra than 93% of all Burger King franchisees in the United States have endorsed the proposal and agreed to co-invest in more advertising.
Burger King North America president Tom Curtis said, "Our approach is centred on a few key goals - operational excellence, redesigned image, and increased marketing — that when combined, deliver a greater experience for our Guests.
Before taking into account advantages from any prospective sales gains, QSR anticipates that these investments will have an average yearly impact on adjusted EPS in 2023 and 2024 of about ($0.10) to ($0.12).
The impact is anticipated to increase adjusted EPS in 2025 and beyond, according to the business. Price movement: On Friday, QSR stock rose 0.51% to close at $60.89.