Restaurants Research

Title Tickers Date Pages
SBUX: Starbucks Corp - U.S. Recovery Sees Smaller-than-Expected Boost from Reopened Stores; EBITDA/EPS Estimates Still Looking for Stable Footing SBUX 2020-06-10 6
EAT: Brinker International - Recovery Has Legs: First Reopened Chili’s Continue to Build, Off-Premise Holding & Several Units Seeing “+” SSS at 50% Capacity EAT 2020-06-09 6
WEN: Wendy's - Global SSS Back in Positive Territory Exiting May: Investors Looking for Greater US Detail, but SSS Recovery Continues to Impress WEN 2020-06-08 5
CAKE: Cheesecake Factory - Model Update CAKE 2020-06-08 4
Sales Recovery Has Continued Through June 3rd - 23,000+ Restaurant Data Set Shows Improving Sales Trends; States That Reopened 4-5 Weeks Ago Seeing Some of the Biggest Gains 2020-06-05 5
CAKE: Cheesecake Factory - Cheesecake’s Early Recovery is Meeting/Beating Peers, per Foot Traffic Data in OH, AZ, GA & TN CAKE 2020-06-04 7
CBRL: Cracker Barrel - Aggressive Cost Control Will Push Street EBITDA & EPS Higher; But Sales Recovery Progress at a Premium & we See CBRL Lagging CBRL 2020-06-02 6
CBRL: Cracker Barrel - F3Q20 First Look: SSS Recovery Stronger Than Expected with Week Ended 5/29 Restaurant SSS Down 45% (vs. Our Down 50%-55%) CBRL 2020-06-02 5
Casual Dining Foot Traffic Continues to Build Through 5/28 - Data from 45+ Million Mobile Devices Shows Steady Foot Traffic Growth from “Sit Down Restaurants” in Reopened States 2020-06-01 4
Social Distancing Restaurant Consumer Survey (pt. 8) - SIP Over for Most – Now What? 50%+ of Respondents Back at Physical Workplace / 80% of Those Who Lost Job Expect to Return 2020-06-01 8
CBRL: Cracker Barrel - With Almost 70% of System Reopened over Last 5 Weeks, Sequential SSS Improvement Likely Solid, But Relative SSS Still Lag CBRL 2020-05-29 6
“Reopened” States Saw Sales Build Through Holiday Weekend - 23,000+ Restaurant Data Set Shows 15 Point Sales Growth Inflection w/ State “Reopening” & Steady Sales Recovery Build Each Week 2020-05-27 8
DPZ: Domino's Pizza Inc - SSS Momentum Builds Even w/ Accelerating Restaurant Re-openings – Peak Valuation & SSS Crest Keep Us on Sidelines DPZ 2020-05-26 6
SBUX: Starbucks Corp - SSS Recovery Progressing as Expected; Material Acceleration of Store Transformation a Big Deal, but Not the NT Investor Focus SBUX 2020-05-21 6
DRI: Darden Restaurants - DRI Model Update DRI 2020-05-20 4
DRI: Darden Restaurants - Return of On-Premise Not All Incremental, But Reopened OG’s & LH’s See Volumes +30% & +68% vs. Best Off-Premise Only Weeks DRI 2020-05-19 6
EBITDA Revisions vs. Share Prices – What the Numbers Tell Us - Revision Dust Has Settled on the Restaurant 1Q20 Earnings Season: EBITDA Resilience Driving Outsized Relative Price Performance 2020-05-19 7
Social Distancing Restaurant Consumer Survey (pt. 7) - Consumers Report Being More Comfortable Making a Return to In-Restaurant Dining Than a Trip to a Retail Store or Mall 2020-05-18 10
MCD: McDonald's - IOM Segment Restaurant Reopening Wheels Beginning to Spin: See Major Market SSS Recovery Progress as Late-2Q20 Catalyst MCD 2020-05-18 10
JACK: Jack in the Box - JACK Kept Us Waiting for QTD SSS and the Numbers Were Worth the Wait: +8% in Most Recent Week & +1.6% over Last 4 Weeks JACK 2020-05-14 6

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