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Burger King Same-Store Sales Fall 2.9%, 'Unpredictable Consumer Environment to Persist' (BKC)

Thu. October 29, 2009; Posted: 07:43 AM
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Oct 29, 2009 (SmarTrend(R) News Watch via COMTEX) -- BKC | Quote | Chart | News | PowerRating -- 10/29/2009-Burger King (NYSE:BKC) reported fiscal Q1 EPS of 34 cents, missing consensus estimates of 37 cents. Revenues in the quarter fell 5.4% year-over-year to $637 million, and came in short of consensus estimates of $652.8 million. Burger King said its worldwide company restaurant margin improved 40 basis points to 13.0% from 12.6% in the year-ago period. However, Burger King said its worldwide same-store sales were down 2.9%, vs. a 3.6% rise in the year-ago period.

Chairman and Chief Executive Officer John W. Chidsey made the following forward-looking statement, "While we expect that the unpredictable consumer environment will persist in fiscal 2010, we intend to continue to execute on the four pillars of our True North plan of growing the brand, running great restaurants, investing wisely and focusing on our people. We are clearly not where we want to be as it relates to comparable sales and overall profitability. We are, however, managing the brand for the long-term, strategically positioning the company for the future when we return to a more normal consumer environment."

Write to Chip Brian at cbrian@tradethetrend.com

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For full details on Burger King Holdings Inc (BKC) click here. Burger King Holdings Inc (BKC) has Short Term PowerRatings of 4. Details on Burger King Holdings Inc (BKC) Short Term PowerRatings is available at This Link.

    


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