Meal Assembly Watch

NEW YORK (AP) – Shares of Burger King Corp. rose for a second day Friday, after the nation’s No. 2 burger chain reported growth in quarterly profit in the face of a difficult consumer environment that slowed sales at its biggest rival.

On Thursday, Burger King said its second-quarter profit rose 29 percent. Worldwide same-store sales, or sales at locations open at least a year, rose 4.5 percent. Same-store sales is a closely watched performance indicator because it measures sales at existing locations rather than newly opened ones.

During a conference call with investors, the company also indicated it had seen no evidence of a slowdown in spending and that same-store sales had grown in January from December numbers.

“This is good news given the choppy macro environment and bucks the trends seen by many of its peers,” wrote Goldman Sachs analyst Steven Kron in a note to investors Thursday.

One of those peers, industry leader McDonald’s Corp., reported Monday that its same-store sales were flat in December and only up 1.5 percent to date in January. McDonald’s also acknowledged that consumers — hit with a weak housing market and high food and gas prices — seemed to be spending less, leading to slightly depressed sales.

Citi analyst Glen M. Petraglia also noted Burger King’s seeming ability to withstand a potential recession, saying in a client note Thursday night “it is fairly well positioned to withstand slowing growth given its value proposition, relative convenience, and international growth opportunities.”

Kron added that momentum could continue for Burger King, particularly since the company will host its first-ever analyst day at the end of the month.

“We expect this event to rally investor interest, particularly in Burger King’s underappreciated international business,” he said.

Shares rose 67 cents, or 2.6 percent, to $26.83 in midday trading.

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