Tim Hortons to open 800 stores under new strategy

Tue Feb 25, 2014 9:16am EST
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TORONTO Feb 25 (Reuters) - Tim Hortons Inc, the Canadian coffee and doughnut chain, said on Tuesday it will open 800 stores in North America and the Middle East, and targeted earnings per share growth of 11 percent to 13 percent between 2015 and 2018 under its new strategic plan.

Tim Hortons, facing mounting competition from such rivals as Starbucks Corp and McDonald's Corp, also said it will target cumulative free cash of about C$2 billion ($1.81 billion).