After initiating a series of successful tests in select U.S. markets, Restaurant Brands International Inc.’s QSR Burger King recently announced the nationwide launch of a plant-based breakfast sandwich -- the Impossible Croissan'wich.
Priced at $3.99, the limited-time-only sandwich features a toasted flaky croissant, fluffy eggs, melted American cheese and a seasoned breakfast plant-based patty. To promote the launch, the restaurant is offering up to 100,000 Impossible Croissan’wich sandwiches through orders from Burger King applications, subject to a minimum $1 purchase.
In 2019, the Miami-based fast food giant had rolled out the plant-based Impossible Whopper sandwich nationwide. Following the launch, Burger King became the first coast-to-coast quick-service restaurant.
Notably, with plant-based food products gaining traction across the globe, this new menu addition is likely to drive customer traffic and sales at Burger King restaurants.
Innovation to Drive the Top Line
The company believes that new product development is a key driver of long-term success of brands and it will continue to focus on this. This is expected to drive traffic by expanding the customer base, spreading out into new dayparts, and continuing to build brand leadership in food quality and taste.
In 2019, the company reinvented its donut line-up with premium donuts that include maple bacon dream donut and the PB&J dream donut. It also plans to roll out these dream donuts across Canada. The company also introduced nitro bar that features nitro cold brew and nitro iced teas, and will be testing its Nitro Line in a few urban locations in 2020. It has made significant progress with respect to remodeling and modernizing its restaurants in the United States.
Backed by strong brand presence, shares of Restaurant Brands have surged 71.7% in the past three months compared with the industry’s 37% growth.
Zacks Rank & Other Key Picks
Restaurant Brands currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some other top-ranked stocks from the same space include Wingstop Inc. WING, Cracker Barrel Old Country Store, Inc. CBRL and Domino's Pizza, Inc. DPZ. Wingstop sports a Zacks Rank #1, while Cracker Barrel and Domino’s carry Zacks Rank #2 (Buy).
Wingstop has a three-five year earnings per share growth rate of 11%.
Earnings in 2021 for Cracker Barrel are expected to surge 462.3%.
Domino's has a trailing four-quarter positive earnings surprise of 12.7%, on average. The company’s earnings beat the Zacks Consensus Estimate in the last four quarters.
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