Weak delivery; demand challenges persist

Company
11 Mar 2024
5 Min read 
  • Westlife Foodworld reported weak performance in 3QFY24 due to subdued demand.
  •  Same-store sales declined 9% YoY, with 6% attributed to external factors.
  •  Net revenue was down 2% YoY despite store growth.
  •  Restaurant operating margins contracted 130bp YoY and 40bp QoQ.
  •  Demand challenges are expected to persist, with no near-term respite in demand.
  •  EPS estimates for FY24 and FY25 have been cut by 33-35% due to weak demand and margin pressure.
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