'Consistent Track Record'
Karen Short, an analyst with BMO Capital Markets, New York, said Wall Street’s reaction to second-quarter results — a decline in the stock price of 5.7% the day the numbers were announced — was probably due to the chain’s cautious comments on the sustainability of margin expansion in the second half and beyond. That reaction was unwarranted, she noted, “[because] management has a very consistent track record of conservatism, so the upside to guidance is ...
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