TH International (THCH) has released an update.
TH International, the operator of Tim Hortons in China, reported a decrease in total revenues by 17.1% in Q3 2024 compared to the previous year, but achieved its highest-ever store contribution margin of 13.3%. Despite the revenue drop, the company experienced a 37.6% increase in contribution from company-owned stores and a 35.3% growth in registered loyalty club members, signaling strong operational improvements and an expanding customer base.
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