Burger King, KFC Owners Miss Results Estimates as Fast-Food Spending Wanes
Burger King parent Restaurant Brands and KFC owner Yum Brands missed market estimates for quarterly results on Tuesday, hit by weak demand in the United States and abroad from budget-stretched customers.
Consumers are relying on cheaper, home-cooked meals instead of eating out as fast-food prices have risen over the past year, hurting traffic across the industry.
As a result, restaurant operators have turned to aggressive promotions in an attempt to attract value-seeking customers. Burger...
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