ETF Managers Trust The Restaurant ETF (NASDAQ: BITE) has been a solid performer, but this week's batch of restaurant earnings reports could be seen as cause for concern.
For example, after the close of U.S. markets Thursday, already embattled Chipotle Mexican Grill, Inc. (NYSE: CMG) slid after delivering another round of disappointing earnings. Chipotle reported adjusted earnings per share of $0.87 and revenues of $998.4 million. Restaurant sales comparables were down 23.6 percent and restaurant transactions decreased 19.3 percent. Analysts had a consensus EPS of $0.93 on sales of $1.05 billion. Net income was $25.6 million, a large drop from $140.2 million.
Starbucks Corporation (NASDAQ: SBUX), the world's largest coffeehouse operator, also tumbled during Thursday's after-hours session after delivering earnings of $0.49 per share were in line with the Street’s consensus, while revenue of ...
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