Currency: Burger King Cites Dollar Woes

Burger King says unfavorable exchange rates took a bite out of second-quarter earnings.
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Burger King (BKC) , which uses the U.S. dollar as its home currency, said yesterday that unfavorable exchange rates shaved 5 cents per share from its second-quarter earnings, which came in at 33 cents a share.

"The complexity and rapidity in currency fluctuations during our second fiscal quarter, created by uncertainties in the currency markets, was difficult to forecast and anticipate," Chairman and CEO John Chidsey said in the company's earnings release.

Looking ahead, Burger King said "continuing uncertainties in the currency markets may continue to adversely impact earnings."

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