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Tim Hortons gives long-term earnings forecast

Tim Hortons expects long-term earnings per share growth of 11 percent to 13 percent

Associated Press

NEW YORK (AP) -- Tim Hortons on Tuesday projected a compounded annual growth rate of between 11 percent and 13 percent from 2015 to 2018.

The Canadian coffee and sandwich shop chain announced last week that it expects 2014 earnings in a range of $3.17 to $3.27 per share. Analysts surveyed by FactSet predict earnings of $3.24 per share.

Sales at U.S. stores open at least a year is expected to rise 2 percent to 4 percent, and 1 percent to 3 percent in Canada.

Tim Hortons Inc. had 4,485 restaurants as of Dec. 29.