Guzman y Gomez's 1Q Sales Fail to Spark Shares -- Market Talk

Dow Jones

2024-10-10

2356 GMT - Guzman y Gomez's shares tread water following the Mexican fast-food chain's 1Q sales update, which RBC Capital Markets thinks could be down to the market anticipating an upgrade to prospectus forecasts for FY 2025. Guzman y Gomez reported 1Q sales growth of 21% in Australia, beating RBC's forecast of 19%. However, U.S. trading has been softer following a strong start, albeit in line with company expectations. Guzman y Gomez's 1Q sales in the U.S. were down 4% compared with RBC's expectations of 31% growth. Guzman y Gomez adds that it expects to meet FY 2025 prospectus forecasts. Shares of Guzman y Gomez are down 0.1% at A$38.58 early on Thursday. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

October 09, 2024 19:56 ET (23:56 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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