THCH TH International (THCH) Q2 FY26 earnings call
Tims China experienced a challenging quarter with significant declines in revenue and same-store sales, driven by underperforming store closures, reduced delivery aggregator subsidies, and underspending in marketing. The new CEO outlined a strategic pivot focusing on product innovation, operational efficiency, and disciplined store network expansion in top-tier cities, aiming for a more balanced company-owned and franchised store mix. The company secured additional financing to support these initiatives and is committed to regaining customer traffic and achieving corporate EBITDA breakeven.
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THCH operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | This call Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Loyalty program members | 35.9M+As of March 31, 2026, our registered loyalty club members exceeded 35.9 million, reflecting a remarkable 42.9% year-over-year growth.Source: earnings call transcript | 37.1M+As of June 30, 2026, our registered loyalty club members exceeded 37.1 million, reflecting a remarkable 41.7% year-over-year growth.Source: earnings call transcript | — |
| Stores Company-owned and operated | 541Rental and property management fees were RMB 47.2 million (USD 6.8 million) for the 3 months ended March 31, 2026, representing a decrease of 16.2% from RMB 56.3 million in the same quarter of 2025, which was in line with the revenue trend as the number of our company-owned and operated stores decreased from 569 as of March 31, 2025, to 541 as of March 31, 2026.Source: earnings call transcript | 544Rental and property management fees were RMB 47.9 million in 2026 representing a decrease of 15.6% from RMB 56.8 million in the same quarter of 2025, which was primarily due to a decrease in the number of our company owned and operating stores from 566 of June 30, 2025 to 544 as of June 30, 2026.Source: earnings call transcript | +0.6% |
| Total orders Delivery | 4.9MDelivery costs were RMB 27.3 million (USD 4.0 million) for the 3 months ended March 31, 2026, representing an increase of 1.0% from RMB 27.0 million in the same quarter of 2025, which was in line with the 8.9% increase in delivery orders from 4.5 million in the first quarter of 2025 to 4.9 million in the same quarter of 2026, partially offset by a reduction in average delivery cost per order.Source: earnings call transcript | 7.2MDelivery costs were RMB 28.9 million in 2026, representing a decrease of 13.3% from RMB 33.3 million in the same quarter of 2025, which was in line with the 11.9% decrease in delivery orders from 8.2 million in the second quarter of 2025 to 7.2 million in the same quarter of 2026.Source: earnings call transcript | +46.9% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
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