Restaurants Research

Title Tickers Date Pages
GRUB: Grubhub Inc - Our Thoughts on Grubhub’s Membership Launch and Management Call Quick Hits GRUB 2020-02-26 4
WEN: Wendy's - Impressive SSS Momentum to End the Year; We Continue to Expect a Material Breakfast-Driven SSS Inflection in Coming Months WEN 2020-02-26 5
RRGB: Red Robin - We See RRGB’s Turnaround Strategy as High Risk/Modest Reward: Ongoing Investor Activism in the Name Keeps Up Hold Rated RRGB 2020-02-25 6
CBRL: Cracker Barrel - With Holiday SSS Inflection in Rear View Mirror – We See Decelerating SSS & Margin Contraction Waiting in F3Q/F4Q CBRL 2020-02-25 6
CBRL: Cracker Barrel - F2Q20 SSS See Big Benefit from Strong January Segment Trends & 15% Heat n’ Serve Price Increase – Both Tailwinds Unsustainable CBRL 2020-02-25 5
TXRH: Texas Roadhouse - 4Q Impresses; See Jump in Valuation Premium as Short Lived w/ Cost Pressures Unrelenting & Segment SSS Surge Unsustainable TXRH 2020-02-20 6
BJRI: BJ's Restaurants - Traffic Woes/Cost Pressures Will Push Street #s Down; BJRI Believes Favorable Weather a Contributor to Strong Segment SSS Trends BJRI 2020-02-20 6
JACK: Jack in the Box - Call Provided Greater Clarity on One-timers, Accounting Impacts & Value Strategy - We Continue to Like Risk/Reward Profile JACK 2020-02-20 6
JACK: Jack in the Box - Noisy F1Q Release w/ Multiple 1Xs; SSS Poised to Accelerate in F2Q with Impactful Product Innovation: Risk Remains > Reward JACK 2020-02-19 5
CAKE: Cheesecake Factory - 2020 SSS & EPS Guidance Intro Captures Street Estimates – but Accelerating Traffic Declines at Core Concept Remain a Concern CAKE 2020-02-19 6
WING: Wingstop - Tougher Comparisons Lay in Wait, But Expect WING to Deliver Continued Best-in-Class SSS Through 2021 Led by Digital/Delivery WING 2020-02-19 7
BLMN: Bloomin Brands, Inc. - We Are Buyers of Today’s Weakness: 6.5x EBITDA a Bargain for Increased FCF, a New 4% Div. Yield & Still Likely Brazil Biz Sale BLMN 2020-02-18 6
BLMN: Bloomin Brands, Inc. - First Look: 4Q19 SSS Were Modest & No QTD SSS Commentary, but Aggressive Cost Controls Now in Place, Brazil Sale Remains in Play BLMN 2020-02-18 4
TXRH: Texas Roadhouse - 4Q19 & 1Q20 QTD SSS Set to Impress, but Outsized Multiple Expansion Will Prove Hard to Hold When Segment SSS Slow TXRH 2020-02-13 8
JACK: Jack in the Box - Continue to Like Risk/Reward with Value/Product Innovation SSS Drivers in Play & A Low Bar for Longer-Term Fundamentals JACK 2020-02-12 7
BLMN: Bloomin Brands, Inc. - 4Q19 SSS Likely to Underwhelm, but Expect 1Q20 QTD SSS & 2020 Guidance Intro to Outpace Current Street Estimates BLMN 2020-02-11 10
YUM: Yum! Brands - Coronavirus & Pizza Hut U.S. SSS Erosion Meaningfully Handicap 1H20 System Sales Growth Visibility; NT Risk > Reward YUM 2020-02-06 7
DNKN: Dunkin' Brands - Quick Hits from Earnings Call & Mgmt. Follow Up: NextGen Remodel Pace Very Modest, Tougher SSS Comparisons Are Here Now DNKN 2020-02-06 7
GRUB: Grubhub Inc - Earnings + Mngt. Call Back Quick Hits: Initiatives Appear to Be Working, But Reduced Profit Visibility Leaves Us on the Sidelines GRUB 2020-02-06 6
DNKN: Dunkin' Brands - 4Q19 SSS & EPS Upside Delivered, but 2020 EPS Growth Falls Short; Strategic Investments & Next Gen Remodels Call Focus Areas DNKN 2020-02-06 5

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