Pursuits
Burger King Sales Miss Estimates Amid Fears of Fast-Food Slump
- Profit tops estimates as company keeps costs under control
- Restaurant Brands signals confidence with $300 million buyback
This article is for subscribers only.
Restaurant Brands International Inc., the owner of Burger King and Tim Hortons, reported second-quarter sales for both chains that trailed analysts’ estimates, lending credence to speculation that the fast-food industry is entering a slump.
Comparable-store sales at Burger King increased 0.6 percent in the quarter, the Oakville, Ontario-based company said Thursday in a statement. Analysts had estimated a 1.6 percent gain, according to Consensus Metrix. Tim Hortons’ comparable sales rose 2.7 percent, missing analysts’ estimate of a 3.9 percent increase.