Restaurants Research

Title Tickers Date Pages
Casual Dining Data: Traffic Thru 8/16 & Capacity Limit Deep Dive - Everything You Need to Know About Capacity Restrictions Across All 50 States – The Key to the Next Phase of CDR Traffic Recovery 2020-08-21 13
Looking at Balance of 2020 Through Lens of 2Q Earnings Season 2020-08-18 10
EAT: Brinker International - Upgrading to Buy: Virtual Restaurant Strategy Done Right is a Game Changer for Brinker - Unlocking High Margin, Incremental Sales EAT 2020-08-13 7
EAT: Brinker International - July SSS Almost Back to Flat for Chili's w/ Open Dining Rooms; SSS Contribution from Virtual Wing Concept Will Be a Focus on Call EAT 2020-08-12 4
RRGB: Red Robin - Highest Sales & EBIT Recovery Hurdles in Casual Dining; Shares Are Discounting This Reality Trading Below 5x EBITDA RRGB 2020-08-12 5
EAT: Brinker International - Looking for -12% Chili’s SSS QTD; Casual Dining Risk/Reward in Limbo w/ SSS Recovery Stall Offset by Potential Vaccine Headlines EAT 2020-08-07 6
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

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