Restaurants Research

Title Tickers Date Pages
PLAY: Dave & Buster's - Largely In-Line Quarter & Guidance Reiteration Welcome; Structural Headwinds Unrelenting/See Estimates Falling in 2020 PLAY 2019-12-11 6
Strategic Alternatives Case Study Lessons for BLMN - While Precedent from 25 Strategic Alternatives Case Studies Points to a Sale – We See Divestiture of Brazil Segment as Most Likely 2019-12-04 10
GRUB: Grubhub Inc - Social Media Promo Analysis: GRUB’s Step Change in Full Effect Despite Peers Sequentially Slowing Promotional Activity GRUB 2019-12-02 11
CBRL: Cracker Barrel - F1Q Shines a Light on Lackluster Trends/Investment Headaches; But We Continue to Expect a Short-Term Heat N' Serve SSS Inflection CBRL 2019-11-26
WING: Wingstop - Quick Hits from GHRA-Sponsored Conference Call with Wingstop’s CFO WING 2019-11-25 6
JACK: Jack in the Box - Market Frustration with Lack of QTD SSS Commentary Overdone; We Agree that SSS Slowed Sequentially, but Inflection Still in Play JACK 2019-11-21 6
JACK: Jack in the Box - A Largely Uneventful Print: SSS Just Above Street & In-line FY20 Guidance Intro; We Like Risk/Reward w/ Continued SSS Inflection JACK 2019-11-20 6
Labor - Street Slow to Acknowledge Accelerating Wage Inflation in 2020: Where Are #’s Aggressive/Who is Most Exposed? 2019-11-19 13
JACK: Jack in the Box - Looking for Modest F4Q SSS Miss & Repo-driven EPS Upside; We Like Risk/Reward with Longer-term Fundamentals Bar Low JACK 2019-11-15 7
CBRL: Cracker Barrel - The Very Popular Holiday Heat n' Serve Offering Will See a ~15% Price Increase to $124.99 - Driving a Healthy F2QE SSS Tailwind CBRL 2019-11-08
EAT: Brinker International - Quick Hits from GHRA-Sponsored Conference Call with Brinker CEO & CFO EAT 2019-11-07 5
WEN: Wendy's - Expect Continued Multiple Expansion in Coming Quarters with Several Meaningful Top-line Drivers in Place WEN 2019-11-06 6
BLMN: Bloomin Brands, Inc. - SSS Miss/EPS Guidance Reiteration as Previewed; Remain Bullish W/ October SSS Better, Margins Improving & Potential Sale BLMN 2019-11-06 6
RRGB: Red Robin - Unenviable Top-line Dynamic Persists: Traffic Stability Comes Only with Discounting or Increased Advertising RRGB 2019-11-05 6
DNKN: Dunkin' Brands - Tax-Rate Driven EPS Upside on Modest SSS Miss; Confirmation That DNKN Will Not Contribute to “Reimage” Capex is Welcome DNKN 2019-10-31 6
SBUX: Starbucks Corp - U.S. Further Establishes Sizeable SSS Step Change; China Solid, but Needs a Step Change of Its Own to Drive Multiple Expansion SBUX 2019-10-30 4
EAT: Brinker International - Delivery Momentum Has Picked Up & Appears Sustainable with Recent Addition of National Advertising Support EAT 2019-10-30 5
WING: Wingstop - Another Strong Quarter for SSS – We see Multiple Topline Drivers In Place to Sustain The SSS Momentum and Valuation Premium WING 2019-10-30 6
YUM: Yum! Brands - System Sales & SSS Poised to Decelerate through 2Q20E; Cash Flow Visibility/Stability Will Limit Further Multiple Compression YUM 2019-10-30 5
CAKE: Cheesecake Factory - Quick Hits from Earnings Call & Mgmt. Follow Up: Low Drama Quarter for Casual Dining - Largely In-line EPS, SSS & Guidance CAKE 2019-10-29 6

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