October 24, 2016 / 6:42 PM / in a year

BUZZ-Restaurant Brands: Bitten by Burger King's disappointing sales

** Restaurant Brands’s U.S.-listed shares down 4.7 pct and Toronto-listed shares down 4.3 pct, set for their worst day since early January

** Company reports comp sales at Burger King in U.S. and Canada falls for second straight quarter; overall comp sales growth at both Burger King Tim Hortons slows sharply

** “In light of McDonald’s more robust numbers, it is disappointing that Burger King did not push into positive territory,” says Neil Saunders, CEO of research firm Conlumino

** However, Restaurant Brands’s Q3 profit, revenue beat analysts’ estimates, which Stephens analyst Will Slabaugh says is “sufficient”

** “QSR remains one of the few restaurants where investors can easily draw a multi-year path to margin improvement and earnings upside”: Slabaugh says

** Up to Friday’s close, U.S.-listed stock had risen nearly 26 pct this year; hit 52-week high on Sept. 1

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