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MarketScreener Homepage  >  Equities  >  Nyse  >  Restaurant Brands International Inc.    QSR   CA76131D1033

RESTAURANT BRANDS INTERNATIONAL INC.

(QSR)
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Burger King to test reusable cups and Whopper boxes

10/22/2020 | 06:08am EST
Undated handout photo of Burger King's new reusable containers

NEW YORK (Reuters) - Call it Whopper deja vu. Burger King will begin testing reusable containers next year to reduce waste from sandwich and soda packaging, the burger brand said on Thursday.

The chain, a unit of Restaurant Brands International, hopes customers will ask for their food to come in the reusable packages, pay a deposit, and get the money back after they scan used soda cups and burger boxes through an app before returning them.

Burger King worked with waste management firm TerraCycle Inc's Loop unit on a so-called closed-loop system that creates no waste because special packages are repeatedly cleaned and re-used. Materials used to make the packaging have not been finalized.

The pilot program will launch in the second half of 2021 in some Burger King restaurants in New York City; Portland, Oregon; and Tokyo initially.

Restaurant chains have been experimenting with reusable and recyclable materials in response to environmental concerns.

Starbucks Corp and McDonald's Corp co-founded the NextGen Consortium in 2018 to address single-use food packaging, including a competition to design new cups, lids and straws that are more compostable, recyclable and reusable.

Its aim is to eventually scale up to mass use of such cups.

Burger King said in a statement that its reusable containers would be cleaned with Loop's "state of the art" cleaning systems that are aligned with its own "rigorous safety procedures around cleanliness and hygiene, all of which have become even more pressing during the current pandemic."

Loop's website does not specify what products and processes are used to clean its reusable containers.

(Reporting by Hilary Russ; Editing by Richard Chang)

By Hilary Russ


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
RESTAURANT BRANDS INTERNATIONAL INC. 0.72% 57.37 Delayed Quote.-10.68%
STARBUCKS CORPORATION 0.82% 98.82 Delayed Quote.11.49%
WASTE MANAGEMENT 0.43% 119.64 Delayed Quote.4.54%
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Financials (USD)
Sales 2020 4 977 M - -
Net income 2020 875 M - -
Net Debt 2020 11 046 M - -
P/E ratio 2020 30,0x
Yield 2020 3,65%
Capitalization 17 310 M 17 310 M -
EV / Sales 2020 5,70x
EV / Sales 2021 5,02x
Nbr of Employees 6 300
Free-Float 96,8%
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Technical analysis trends RESTAURANT BRANDS INTERNATIONAL INC.
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TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 63,38 $
Last Close Price 56,96 $
Spread / Highest target 44,0%
Spread / Average Target 11,3%
Spread / Lowest Target -8,71%
EPS Revisions
Managers
NameTitle
José Eduardo Cil Chief Executive Officer
Alexandre Behring da Costa Co-Chairman
Daniel S. Schwartz Co-Chairman
Joshua Arthur Kobza Chief Operating Officer
Matthew Dunnigan Chief Financial Officer
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