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Quick Hits: Burger King Has It Their Way Scott Reeves Aug 21, 2008 12:00 pm |
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There’s certainly no indication that the hamburger, an old American standby, is being replaced by alfalfa sprouts.Burger King (BKC), second only to McDonald's (MCD), says extended hours and a new Steakhouse hamburger boosted profits.
Burger King says fourth-quarter net income rose 42% to $51 million, or $0.37 per share, beating analysts’ estimates by $0.03. Sales grew 9.5% to $646 million for the period ended June 30.
In the same period last year, Burger King earned $36 million, or $0.26 per share, on sales of $590 million.
Sales at restaurants open at least 13 months increased 5.3% as Burger King extended hours in May to attract late-night and breakfast customers.
Analysts say higher food and fuel costs have boosted sales at fast food chains.
For more on fast food, check out Hoofy and Boo's always astute report.
Analysts say higher food and fuel costs have boosted sales at fast food chains.
For more on fast food, check out Hoofy and Boo's always astute report.
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