Why Bojangles', Inc. Stock Dropped Today
Shares of Bojangles' Inc. (NASDAQ: BOJA) plunged 15% Friday after the fast-food chain announced mixed second-quarter 2017 results and lowered its full-year guidance.
Quarterly revenue rose 2.1% year over year to $134.4 million, as contributions from new locations were offset by a system-wide comparable-restaurant sales decline of 1.4%. On the bottom line, adjusted net income declined 10.9% to $9 million and fell 14.8% on a per-share basis to $0.23. Analysts, on average, were expecting lower adjusted earnings of $0.22 per share, but on slightly higher revenue of $135 million.
Image source: Bojangles.
Source: Fool.com
