Overview

• Shares fell about 15% in after-hours and early trading following the earnings release.
• Adjusted earnings were $0.40 per share versus a $0.92 estimate, and revenue was $557.41 million versus $562.78 million expected.
• Comparable store sales declined 3% year over year as total revenue was roughly flat.
• Executives cautioned that rising costs from inflation or tariffs may be difficult to offset without weakening consumer demand.
• Operating cash flow was $34 million with $443 million of available liquidity, and early third-quarter same-store trends were described as consistent with the Q2 exit, with modest expansion planned including international franchises.