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OHSHO FOOD SERVICE shares continue to fall as May same-store sales decline for fifth consecutive month
Shares of OHSHO FOOD SERVICE CORP. <9936> extended their downward slide on Tuesday. The selling pressure was triggered by the company's announcement after the close on Monday, June 1, of its May monthly metrics, which revealed that same-store sales at directly operated locations dropped 3.3% year-on-year?marking the fifth consecutive month of contraction.
The restaurant operator attributed the lackluster performance to softening food delivery demand amid shifting consumer dynamics, as well as a tough year-on-year comparison effect against a temporary television-driven spike in customer traffic during the same month last year. Total sales across all locations contracted 3.1% year-on-year.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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