At Tim Horton’s, home of the hot Double Double, things have cooled. That’s been bad news for shareholders in its owner, Restaurant Brands International.
Restaurant Brands (QSR), which also owns Burger King and Popeye’s Louisiana Kitchen, has outperformed the S&P by about 7 points since it was formed in late 2014. But since late October, they’re off about 16%. well behind the S&P 500’s pace. Tim Horton’s, a Canadian institution named for its co-founder—who, perhaps obviously, was an ice hockey star—is a big reason for that.