Burger King pledges to emphasize value menu in advertising

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."

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