Burger King Owner’s Sales Hurt by Deepening Restaurant Slump
- Tim Hortons’ strength didn’t offset softness at sister brands
- Papa John’s results also point to weak consumer backdrop
A Burger King '$5 Your Way Meal.'
Photographer: Lucia Buricelli/BloombergThis article is for subscribers only.
Restaurant Brands International Inc.’s sales grew less than anticipated in the second quarter, the latest sign of consumer malaise hitting restaurants.
The company missed estimates for sales growth at restaurants open more than 13 months, as a stronger-than-foreseen showing for Tim Hortons’ Canada business couldn’t offset unexpected weakness in the rest of the operation. System-wide sales, which also include newer restaurants, was also just short of expectations.