Burger King widens annual losses on rising costs, increased competition

Mon, 28 Jul 2014

By Suze Metherell July 28 (BusinessDesk) - Blackstone Group's Burger King chain in New Zealand widened its loss in 2013 as rising sales, in an increasingly crowded burger market, were offset by higher costs for raw materials and consumables, and increased property and consultancy expenses. The local burger market is increasingly competitive, with the 2012 arrival of US chain Carl's Jr, brought over by Restaurant Brands, the NZX-listed KFC, Starbucks and Pizza Hut operator, to better compete against McDonald's and Burger King. Carl...

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