Arcos Dorados Holdings: Slides on bigger-than-expected loss

Arcos Dorados Holdings

13/05/2020 15:48

** Shares of McDonald's franchisee  ARCO.N  fall ~4% to
$3.46 on bigger-than-expected Q1 loss amid COVID-19 pandemic 
    ** Co posts Q1 loss of 25 cents/shr compared with estimate
of 1 cent loss - Refinitiv IBES data 
    ** ARCO, which operates restaurants in Brazil, Aruba and
Puerto Rico among other locations, said systemwide comparable
sales declined 4.5% 
    ** CEO Marcelo Rabach says decline in guest traffic and
limited service during health crisis impacted business in March;
"Q1 results were not what we expected"
    ** Stock down ~56% this year

 (Reporting by Nivedita Balu in Bengaluru)
 ((Nivedita.Balu@thomsonreuters.com; within U.S. +1 646 223
8780; outside U.S. +91 80 6749 4822/ Twitter: @niveditabalu;))