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12.12.24 - 04:07
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Restaurant Brands NZ falls; Macquarie cuts FY24 profit outlook (Reuters EN)
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BUZZ-Restaurant Brands NZ falls; Macquarie cuts FY24 profit outlook ** Restaurant Brands New Zealand RBD.NZ falls 2.3% to NZ$3.9 ** Macquarie sees prolonged economic weakness in key geographies for fast food chain operator ** Says broad-based economic weakness expected to translate into softer rev growth, slow margin expansion for co ** Lowers FY24...
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08.08.24 - 20:36
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Burger King Owner′s Earnings Fall Short Of Estimates On "Consumer Pressures" (ZeroHedge)
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Burger King Owner's Earnings Fall Short Of Estimates On "Consumer Pressures"
Restaurant Brands International, the owner of Burger King, Tim Hortons, Popeyes, and Firehouse Subs, posted second-quarter earnings that were weaker than expected by the average Wall Street analyst. This is more evidence that the consumer downturn theme is gaining momentum as low/mid-tier consumers pull back on spending amid elevated inflation and high interest rates.
"Our priorities and balance of thoughtful investments with cost discipline allow us to navigate short-term consumer pressures and drive sustainable results for our business and our franchisees," CEO Josh Kobza stated in the second quarter earnings result press release.
Here's a snapshot of what RBI reported compared with what the average Wall Street analyst tracked by Bloomberg was expecting:
Comparable sales +1.9% vs. +9.6% y/y, estimate +2.88% (Bloomberg Consensus)
RBI's earnings per share, excluding certain items, and revenues were roughly...
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