Burger King called business conditions for the first quarter "modestly negative" and vowed to become "more aggressive on value" with advertising pushing lower-priced menu items. Burger King ended 2012 with annual revenue down 16% to $1.97 billion, after pursuing a "barbell" strategy of low-end and high-end items. But Barclays Capital analyst Jeffrey Bernstein sees a better future nonetheless, characterizing BK's business as "favorable, with positives more than offsetting negatives. We believe the brand is in the early stages of a turnaround."
Burger King pledges to emphasize value menu in advertising
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