Shares in Restaurant Brands fall 10% as inflation bites into second-quarter sales

Restaurant Brands said sales for the second quarter to June went up 7.1%. (Image: KFC)

Mon, 07 Aug 2023

Shares in Restaurant Brands (RBD) fell more than 10% in mid-afternoon trading on Monday, with investors unhappy that the fast food company’s price rises hadn’t been sufficient to cover inflationary cost increases.The company's share price fell 5.5% to $6.03 after the market opened and was down 10.7% by mid-afternoon.Devon Funds head of retail Greg Smith said cost pressures had been dogging Restaurant Brands for some time.He told BusinessDesk the company had flagged a while back that it was looking to put through price rises...

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