Slumping fast food sales in US, Canada extend to Burger King

AP News
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Posted: Aug 04, 2016 8:19 AM
Slumping fast food sales in US, Canada extend to Burger King

OAKVILLE, Ontario (AP) — Restaurant Brands International said its profit jumped during the second quarter as stronger sales at its Burger King restaurants overseas offset weakness in the U.S. and Canada.

Burger King's sales slipped 0.8 percent at established restaurants in the U.S. and Canada, following disappointing performances from other restaurant chains in the same area.

Sales growth in Asia and Latin America helped offset that weakness, boosting Burger King's global comparable sales by 0.6 percent, according to the Ontario company. Tim Hortons' global sales rose 2.7 percent at established locations.

For the quarter ended June 30, the company earned $90.9 million, or 38 cents per share. Adjusted earnings were 41 cents per share. Analysts expected 35 cents per share, according to Zacks Investment Research.

Total revenue was $1.04 billion.

Shares of Restaurant Brands International Inc. have increased 20 percent since the beginning of the year. The stock has risen nearly 4 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on QSR at http://www.zacks.com/ap/QSR

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Keywords: Restaurant Brands, Earnings Report