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“On Tuesday, Burger King posted better-than-expected fourth-quarter profits of $49 million, or 36 cents per share, though results were sharply lower than the fourth quarter of last year.
While earnings topped Wall Street‘s expectations, Burger King’s quarterly revenue came up short as global comparable same-store sales, or sales at stores open at least one year, fell 0.7%. Comps at U.S. and Canadian locations fell 1.5%.
Burger King’s performance was pressured by stubbornly high rates of young, jobless males in the U.S., Citi analyst Gregory R. Badishkanian said in an appearance on CNBC.”
More on The Street here.
Thinking double-dip in near future? Get some recession proof fastfood shares at McDonald’s instead.
Maxed the Burger King Chart below on Yahoo – not that pleasing – looking at history and brand value in this poor economic climate I would still rather put my spare change at the Golden Arches.
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