Restaurants Research

Title Tickers Date Pages
Tracking GA & TN Restaurant Reopenings Through Local Media - Wide Range of Strategies, but Majority of Independent & National Chain Operators Remain Closed and Are Proceeding Cautiously 2020-04-27 6
Citywide Fee Caps A Mounting Third-party Delivery Headwind - Grubhub and DoorDash Most Exposed to Citywide Fee Caps 2020-04-27 5
DPZ: Domino's Pizza Inc - Call Takeaways: April SSS Tailwinds Set to Benefit Much of Segment; Int’l Sales a Wild Card with SSS & Development Unknowns DPZ 2020-04-23 7
DPZ: Domino's Pizza Inc - U.S. SSS Accelerate in April, Int’l Closures Weigh on Sales; Call Focus Areas: Drivers of April U.S. Momentum, Development Outlook DPZ 2020-04-23 4
Data Points Mounting: Stimulus-Driven Sales Inflection is Here - Can Stimulus Help Bridge Restaurant Sales to the Staggered May/June Re-openings? Early Data Points Suggest It Will Help 2020-04-22 7
CMG: Chipotle - Relative SSS & Balance Sheet Strength Live Up to Expectations, but Margin & EPS Growth Resiliency Leave Us Very Impressed CMG 2020-04-21 7
Casual Dining Sales Positioned to See Stimulus Inflection - The 2008 Consumer Stimulus Case Study Points to a Sizeable, But Short-Lived Sales Inflection from Mid-April into May 2020-04-21 5
DRI: Darden Restaurants - View Equity Raise as Offensive: Allows for Continued Investment & Acceleration of Term Loan Pay Down and Dividend Re-Up DRI 2020-04-20 5
Social Distancing Restaurant Consumer Survey (pt. 5) - Tracking Restaurant Customer Response to COVID – Consumer Comfort with & Pursuit of Off-Premise Casual Dining on the Rise 2020-04-20 8
Visualizing the Wave of Restaurant Sector SSS Data Points - COVID Impact on SSS: Tracking Every Restaurant Sector Data Point That Has Hit Over Last Several Weeks 2020-04-17 8
BLMN: Bloomin Brands, Inc. - BLMN Deserves Your Attention: Strongest Off-Premise Sales in Casual Dining; Ample Liquidity, Low Cash Burn & 65% Sell Off BLMN 2020-04-16 5
JACK: Jack in the Box - JACK Oversold vs. Franchise Peers: News of SSS That Are Equal or Greater than MCD & WEN & Ample Liquidity Increases Conviction JACK 2020-04-15 5
RRGB: Red Robin - QTD SSS Offer Few Surprises; Weekly Sales Disclosure Confirms Healthy Consumer Shift to Off-Premise Casual Dining Offerings RRGB 2020-04-15 5
Casual Dining Web Traffic Points to Still Accelerating Off-Premise - Web Traffic Data Through 4/12 Indicates Olive Garden & Chili’s Seeing Accelerating To-go Sales; Texas Roadhouse Biggest Jump 2020-04-15 16
GRUB: Grubhub Inc - GRUB Proving Delivery Not Immune from COVID-19; Another Round of Downward EBITDA Revisions Weighing on the Stock GRUB 2020-04-13 5
RRGB: Red Robin - Aggressive Cost Control & Facility Borrowing Will Keep RRGB Solvent, but EPS Losses Will Be Outsized; Activism Keeps Us Hold RRGB 2020-04-13 7
YUM: Yum! Brands - Updating SSS & EPS for COVID Impact: More Than Ample Liquidity, But Outsized Global Exposure to Some of Hardest Hit Countries YUM 2020-04-13 6
JACK: Jack in the Box - JACK Oversold vs Franchise Peers w/ (1) Sufficient Liquidity, (2) Minimal Securitized Financing Risk, & (3) Low Discretionary Menu JACK 2020-04-13 7
SBUX: Starbucks Corp - Store Closure-Driven U.S. SSS Trends Ugly, But Will Recover Quickly w/ May Reopening; Shares Very Resilient Facing Big EPS Cuts SBUX 2020-04-09 6
WEN: Wendy's - Updating SSS & EPS: Remain Bullish with Breakfast Redux in 2H20, Plenty of Cash & Share Performance Gap vs. Franchise Peers WEN 2020-04-09 7

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