Same-store sales relatively flat; revenue drops more than 48%
Burger King Worldwide Inc. reported relatively flat same-store sales systemwide during the second quarter ended June 30. However, net income increased more than 30 percent, which the company attributed to cutting costs and increased emphasis on value promotions and limited-time offers. During the quarter, the company also refranchised 305 restaurants as part of an ongoing program to shed company units and streamline costs.
Result: $62.9 million, or 18 cents per share % Increase: 30.5% (from $48.2 million, or 14 cents per share)
Result: $278.3 million % Decrease: 48.5% (from $540.8 million)