Burger King profit beats projection as franchising slashes costs
(Reuters) - Burger King Worldwide Inc. reported a better-than-expected third-quarter profit as it slashed costs by franchising more outlets and sales grew outside North America.
The third-largest U.S. hamburger chain, behind McDonald's Corp. and Wendy's Co., said expenses fell about 90 percent, mainly because it refranchised more than 500 restaurants in the past year.
With almost all of its restaurants now franchised, total sales fell about 40 percent to $275.1 million.
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