[1/2] The Burger King company logo stands on a sign outside a restaurant in Bretigny-sur-Orge, near Paris, France, July 30, 2020.
REUTERS/Benoit Tessier Acquire Licensing RightsNov 3 (Reuters) - Restaurant Brands International (QSR.TO) missed market estimates for quarterly sales on Friday as still-high inflation pressured consumer spending at its Burger King chain, signaling that the brand's turnaround efforts were falling short.
The weak sales come despite Burger King executing a $400 million turnaround plan by streamlining menus, targeting younger consumers through better advertising and improving restaurant technology.
Total same-store sales at the Burger King division rose 7.2% in the third quarter, missing estimates of 8.71%, according to LSEG IBES data.
Toronto, Canada-based Restaurant Brands posted an adjusted profit of 90 cents per share, beating estimates of 86 cents.
Persons:
Benoit Tessier, McDonald's, Burger, Wells Fargo, Tim Hortons, Deborah Sophia, Devika
Organizations:
Burger King, REUTERS, Brands, U.S ., Burger King's, Thomson
Locations:
Bretigny, Paris, France, U.S, Burger, Burger King's U.S, Canada, Toronto, Bengaluru