Why Investors Shouldn't Buy This Restaurant Turnaround Story -- Yet
It's been a rough year for investors in Fiesta Restaurant Group (NASDAQ: FRGI), owner of the Pollo Tropical and Taco Cabana restaurant chains. Revenue is down, profits are gone, and some locations have closed. These results have sent the stock down over 40% this year.
As bad as it's been, in Fiesta's third-quarter earnings call, management suggested that the company is beginning the first chapter of its turnaround story, but it feels like we've read this book before.
Downtown Orlando, Florida, one of Pollo Tropical's main markets. Image source: Getty Images.
Source Fool.com
