Chinese fast food operator TH International Ltd. (THCH.US) recorded its strongest-ever growth for new store openings in last year’s fourth quarter, according to new data released by the company to mark the opening of its 10th Popeyes store in the Mainland market. At the same time, China’s slowing economy appeared to take a bite out of the company’s core Tim Hortons chain, which fell noticeably behind its expansion goals disclosed midway through last year.
TH International, the master franchisee for Tim Hortons and Popeyes in China, said it now has 919 stores, according to an announcement this week to mark the Popeyes 10-store milestone since the brand’s relaunch in China last August. That means the company opened a record 156 stores during the quarter, more than the 146 it opened in the previous three quarters combined.
But the latest figure was also noticeably short of the 1,000 stores that TH International aimed to have in operation by the end of last year, according to a company announcement midway through last year. TH International didn’t comment further on the number, and will undoubtedly discuss any shortfalls when it announces its official fourth-quarter results later this year.