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How the Whopper Reignited the Burger Wars
Burger King’s U.S. turnaround gained momentum as domestic same-store sales jumped 8.5% in the second quarter, while Wendy’s posted a 7% decline.
- Burger King, owned by Restaurant Brands International, posted 8.3% same-store sales growth in the second quarter, vaulting past Wendy's to claim the number two U.S. burger spot after five consecutive quarterly gains.
- Wendy's same-store sales fell 8.2% in the United States, marking six consecutive quarterly declines. CEO Bob Wright stated, 'Our traffic, our value proposition, and franchisee economics are not meeting our expectations.'
- Closing down more than 5% on Monday, Wendy's stock collapsed 27% over the last year. Morgan Stanley's Brian Harbour reduced fair value assessments to $5.50 per share from $7.
- Reporting $7 billion in recent quarterly revenue, McDonald's remains the industry leader with $2.86 billion in net income. Restaurant Brands International posted $665 million in net income, signaling increasing competition.
- Industry-Wide same-restaurant sales ticked up 1.7% year over year, though Jefferies reported that a cyclospora outbreak and Canadian wildfire disruptions negatively affected the business.
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For the first time in a long time, Burger King is living up to its name (burger king).
Stronger Burger King Goes After McDonald's
The post Stronger Burger King Goes After McDonald’s appeared first on 24/7 Wall St..For years, Wendy’s (NASDAQ: WEN) was the No. 2 fast-food hamburger chain in the US. Burger King was No. 3. Recent earnings show that those positions have reversed, and the leader, McDonald’s (NYSE: MCD), has a rival that is growing faster than it is. Earnings show that Wendy’s same-store sales have dropped six quarters in a row. At the same time, Burger King’s sa…
·Lakewood, United States
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Total News Sources24
Leaning Left3Leaning Right3Center13Last UpdatedBias Distribution68% Center
Bias Distribution
- 68% of the sources are Center
68% Center
L 16%
C 68%
R 16%
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