Business News: Burger King Feeling Heat From Bargain Hunters

Started by MikeLigalig.com, February 18, 2013, 01:25:58 PM

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MikeLigalig.com

February 18, 2013, 01:25:58 PM
Burger King Feeling Heat From Bargain Hunters

The world's second-largest burger chain shot past analysts' fourth-quarter expectations. But Burger King Worldwide (BKW) said it's feeling the heat from the cheaper value offerings from its much larger arched enemy, McDonald's (MCD). Burger King reported adjusted fourth-quarter earnings of 23 cents, up 64% and 8 cents more than analysts surveyed by Thomson Reuters expected. Revenue declined 30% to $404.5 million, topping views for $371.3 million.

Source: Burger King Feeling Heat From Bargain Hunters
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