Wingstop -12% and Booking -7% both off of what looks like a weak consumer.
First, Wingstop:
Atrocious comp sales tell the full story.
The bar was not high at all - but you cant have mid-single digit comp sales declines and trade at 40x forward earnings:
Now on to Booking… take a look at just how sharp this miss is in forward revenue growth. Do analysts just not update for things like major geopolitical conflicts, even with fresh reads from the airlines? A headscratcher…
The bar was not high, but it was higher than last quarter’s:
