Nathan's Famous: Falls on weak revenue warnings

Nathan's Famous

12/06/2020 15:59

** Quick-service restaurant chain's shares  NATH.O  down
7.1% at $52.01 - on course to decline for the fourth straight
session
    ** Nathan's expects a hit to royalty revenue from
franchisees due to closed malls and theaters, where most of
franchised restaurants are located, as well as lower traffic at
airports and travel plazas
    ** NATH also expects direct sales to professional sports
venues and amusement parks to be hit by continued
coronavirus-led halt in operations  urn:newsml:reuters.com:*:nGNX7PJ2N2
    ** In Q4 ended March 29, total revenue fell 2% from a year
earlier, while profit rose nearly one-third to 76 cents per
share - NATH  urn:newsml:reuters.com:*:nGNX7PJ2N2
    ** NATH declares Q1 cash dividend of 35 cents per share
    ** Including session's move, stock has lost over a quarter
of its value this year

 (Reporting by Praveen Paramasivam in Bengaluru)
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