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Main » 2016 » October » 18 » American steakhouse suffer from BREXIT
American steakhouse suffer from BREXIT


American steakhouse suffer from BREXIT

 American steakhouse pointing to sterling, explaining the weakness of the profit earned in the third quarter of the collapse of the British currency - by AMarkets materials.





Revenues in the third quarter was very low. CEO for stakes were forced to revise profit forecasts to the end of the year. Top managers tied to unimportant poor sales results in the energy segment, the loss of the tourism industry. Factor number one - the devaluation of the pound and the decline in sales to British tourists. The pound has experienced two pretty tough month.


On the chart - the dynamics of GBP / USD on the background of the British referendum results. The chart also indicated flash point of investors' expectations that the UK out of the EU would be "difficult":



So. Meat American restaurants suffer from the weakness of the pound and turbulence - so, at least, think industry representatives. Example: Holding a large restaurant Del Frisco's Restaurant Group «played» Financial results significantly worse than their even the most pessimistic expectations, earning $ 0.04 against expectations of $ 0.05.Revenue was $ 71.4 million versus $ 72.7 million expected.



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