Market PositionThe company's trading value is below its 5 and 10-year averages, indicating a challenging market position.
Rebranding ChallengesThe traffic slump spurred by the ill-fated logo change resonated through F1Q results, and, along with a softer restaurant backdrop, prompted a weaker start to F2Q and a FY26 guidance cut.
Traffic DeclineRevenue guidance was updated to reflect a significant decline in traffic, with expectations of continued traffic declines.