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00:02Several restaurant chains, including Wingstop and Domino's, reported weaker-than-expected
00:07sales growth in the latest quarter as rising gasoline prices tied to the U.S.-Israeli war
00:12on Iran pressured consumer spending. Analysts expect declining sales growth from other chains,
00:19including Shake Shack and Jack in the Box, according to Reuters.
00:22Average U.S. gasoline prices reached $4.43, nearly 40% higher year-over-year,
00:28with prices above $6 in California.
00:32Wingstop reported an 8.7% drop in same-store sales and expects further declines,
00:37while Domino's posted 0.9% U.S. same-store sales growth and cut its outlook.
00:43Chipotle reported 0.5% growth but maintained a flat outlook.
00:49In April, nearly twice as many restaurant analysts cut profit forecasts for the next quarter
00:53as raised them, reflecting a more negative outlook, according to LSEG data.
00:58The LSEG U.S. restaurant index fell 5%, wiping out more than $40 billion in value.
01:05For all things money, visit Benzinga.com.
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