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Burger King Profits Soar 29%, Same-Store Sales up 4.5%

Burger King’s profit for the second quarter rose 29 percent thanks to a greater emphasis on discount offerings and to late-night hours.

Net income increased to $49 million, from $38 million a year earlier, according to Bloomberg. Same-store sales at U.S. and Canadian restaurants open at least 13 months grew 4.2 percent in the quarter. 

Burger King opened 105 new stores worldwide in the last quarter. North American shops accounted for 63 percent of revenue in the quarter, compared with 65 percent last year. Worldwide same-store sales grew 4.5 percent.

The company extended store hours until midnight or later at its U.S. stores and introduced the industry’s first discount breakfast last year. Analyst Steve W. West of Stifel Nicolaus & Co. says that with extended hours, newer products and the focus on a value menu, the company is initiating many of the changes that McDonald’s already did. 

McDonald’s said its December same-store sales were unchanged.

 

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