BK 3Q Revenue Lower than Expected
When Tina Fey in character as Sarah Palin joked that, "You know, we've got to accompany tax reduction and tax relief for
Americans. Also, having a Dollar Value Meal at restaurants, that's
going to help," I thought maybe she had a point.
People always have to eat, regardless of the economy, but when times are tough, maybe they'd be eating a bit cheaper. Like at places such as Burger King.
Well, the Miami-based BK announced its third-quarter revenue today, and it missed analyst expectation by about $25 million. But that's still up from the previous quarter, and sales in stores opened for at least a year are up by 1 percent. Regardless, stocks took a downturn after the news.
In the meantime, BK, get to pissing off more dignitaries. That should do wonders for profit.
[AP: Burger King preliminary 3Q revenue misses Street]
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