Restaurants Research

Title Tickers Date Pages
JACK: Jack in the Box - +9-10% SSS in July – Especially for a Hamburger Player Deserves More Market Attention: Raising SSS & EBITDA Ests. Across Board JACK 2020-08-06 5
JACK: Jack in the Box - F3Q Saw Upside Across the Board: Competitive Position Further Strengthening in COVID Backdrop – Valuation Should Follow JACK 2020-08-05 4
WEN: Wendy's - Earnings Call & Mgmt. Follow Up Quick Hits: 6% Sell Off Overly Punitive for HSD % SSS & Collection of Sustainable Drivers WEN 2020-08-05 5
WEN: Wendy's - 2Q First Look: SSS Recovery Momentum Builds in June & July – We See Drivers in Place to Support 5%+ SSS Through 1H21E WEN 2020-08-05 5
TXRH: Texas Roadhouse - Recovery to Date Best in Class – But w/ July SSS Only Modestly Better Than June, Further Recovery (for all of Casual) A Challenge TXRH 2020-08-04 5
Social Distancing Restaurant Consumer Survey Week 21 - Landscape Has Dramatically Shifted Since Late June: Consumer Comfort w/ Casual Dining Down Materially, Meals at Home Up 2020-08-03 8
JACK: Jack in the Box - Looking for F3Q SSS & EPS Upside w/ JACK on Small List of Cos That Has Seen Competitive Position Strengthen in COVID Backdrop JACK 2020-08-03 5
WEN: Wendy's - Near Best-in-Class Drive-Thru Operator + Breakfast Tailwind + Digital Push + Loyalty = 5+% SSS Growth Through at Least 1H21E WEN 2020-08-03 4
GRUB: Grubhub Inc - Strong Topline Momentum Throughout the 2Q & Into July GRUB 2020-07-30 5
DNKN: Dunkin' Brands - SSS Recovery Solid & Dividend Reinstatement Welcome: Increasingly Limited Development Visibility Keeps Us Hold Rated DNKN 2020-07-30 5
YUM: Yum! Brands - 4% Sell Off a Bit Harsh Given Combo of: In-line SSS, Resumption of Share Repo & Fleeting COVID-Driven Development Delays YUM 2020-07-30 5
CAKE: Cheesecake Factory - 2Q Results Largely Met Expectations, but NT SSS Recovery Prospects in a Holding Pattern & More Dependent on State Reopenings CAKE 2020-07-29 6
WING: Wingstop - 2Q Earnings Call Quick Hits: WING a Serial Compounder without Peer. Looking for 4-Yr Run of Mid-teen EBITDA Growth (’21 to ’24) WING 2020-07-29 5
WING: Wingstop - April SSS Impressed at +33% and That Momentum Never Slowed with 2Q SSS +32%; July SSS Commentary Will Be THE Call Focus WING 2020-07-29 5
SBUX: Starbucks Corp - Margin Recovery Solid, But After Hours Move Overzealous, Given That Catalyst Was July SSS Number from Select Group of Stores SBUX 2020-07-29 6
MCD: McDonald's - We Continue to See an Underappreciated IOM Segment SSS Recovery Driving Upward EBITDA Revisions MCD 2020-07-28 7
CMG: Chipotle - Analysis of Delivery Menu Pricing Premiums Across 25 Concepts Indicates That Chipotle Has a Big Pricing & Margin Opportunity CMG 2020-07-27 36
DNKN: Dunkin' Brands - Looking for 2Q SSS Upside, but EPS Miss on Street Confusion w/ Revenue & System Sales Modeling; July SSS Down LSD to MSD DNKN 2020-07-26 5
BLMN: Bloomin Brands, Inc. - Recovery Has NOT Taken Step Backwards w/ Jump in Cases; But Has Stalled; With No NT Drivers in Play –BLMN in Holding Pattern BLMN 2020-07-24 6
BJRI: BJ's Restaurants - CA Restaurant Opening Reversal Out of BJ’s Control, but w/ 30% of Units Calling the State Home – 2H20 SSS Recovery Will Take a Hit BJRI 2020-07-24 5

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