Tim Hortons puts stronger emphasis on lunch, amid 'heightened sense of urgency'

TORONTO -- Tim Hortons chief executive Marc Caira says he wants the chain to be a priority for Canadians at the lunch hour.

The CEO said Thursday that he's determined to make the company the lunchtime leader among quick-food outlets through its growing variety of sandwiches, grilled paninis and other offerings.

"In this low-growth era you need to aggressively go after these segments because there's potential to grow," he said in an interview after the company's shareholders meeting.

Caira said the recent launch of its crispy chicken sandwich is helping the company achieve the goal of presenting itself as an alternative to its biggest competitors, which include McDonald's and Burger King.

At the same time, Caira wants to focus more on nutrition, emphasizing that his company's chicken sandwich contains more protein and less fat than comparable offerings.

"Our responsibility is to make the product as healthy as possible and provide you the information to help you make the right decision," he said.

"It's very easy to make (a) donut really, really healthy. The problem is you wouldn't buy it because there's no taste."

Caira said the national coffee and doughnut chain needs to move faster to test and launch food items as it faces off against aggressive competitors.

"You will notice continued changes at Tim Hortons," Caira said at the company's annual meeting in Toronto on Thursday. "You will notice a heightened sense of urgency."

Caira outlined some of his general plans as part of a presentation to shareholders that emphasized the company will enter "a new era" as it nears it's 50th anniversary later this month.

"What has led to our success in the past may not necessarily result in the same success in the future," he said.

Tim Hortons has faced an onslaught of competition from both high-end coffee shops like Starbucks, and fast food chain McDonald's, which entered the coffee market several years ago.

On Wednesday, Tim Hortons reported a 5.5 per cent bump in net profit in the first quarter to $90.9 million, results that fell short of analyst expectations. The profit amounted to 66 cents per diluted share, compared with $86.2 million or 56 cents in the same period last year.