Restaurants Research

Title Tickers Date Pages
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
CAKE: Cheesecake Factory - CAKE Hit Hard w/ State Opening Reversals Impacting 30% of Units; Recovery Headwinds Largely Reflected in 2H Street SSS Estimates CAKE 2020-07-23 7
CMG: Chipotle - Sticky Digital Mix, Pent Up Loyalty Oppty & Delivery Menu Pricing Premium on Way: All Impress, but Need to at 33x ‘21 EBITDA CMG 2020-07-22 6
SBUX: Starbucks Corp - Looking for U.S. & China SSS Recovery Paths to Diverge as COVID Headwinds Mount & the U.S. Recovery Pace Slows SBUX 2020-07-22 6
MCD: McDonald's - Looking for A Stronger-than Expected IOM Segment SSS Recovery to Drive Upward Revisions to 2020E & 2021E Street EBITDA MCD 2020-07-22 7
BLMN: Bloomin Brands, Inc. - Expect July MTD SSS to Sit Below Peak June Recovery Levels; 2H Street SSS Estimates Aggressive w/ No NT Demand Catalyst BLMN 2020-07-21 7
DPZ: Domino's Pizza Inc - Strong 2Q SSS & More to Come in 2H; Valuation Premium Will Be Put to Test w/ Very Challenging Comparisons Waiting in 2021 DPZ 2020-07-16 5
DPZ: Domino's Pizza Inc - 2Q20 First Look: DPZ Exited Quarter w/ +20% SSS, No Word on QTD SSS; Healthy EPS Upside Driven by Tax Rate & G&A Favorability DPZ 2020-07-16 4
CMG: Chipotle - Expect 2Q & Current Trends to Impress, But There is No Room for Error with Shares Trading at All-Time High Valuation & +30% YTD CMG 2020-07-16 7
DPZ: Domino's Pizza Inc - See Double-Digit U.S. SSS into 4Q with Delivery/Carryout Demand Still Elevated; Consumer Behavior in India & Mexico a Key Focus DPZ 2020-07-14 6
Tracking Restaurant Sales & Traffic Data Through July 6th - Casual Dining Stocks -12% in July, Discounting Sales Recovery Backslide; Data/Reopening Reversals Point to Further Softening 2020-07-10 7
JACK: Jack in the Box - JACK Shares Deserve More Respect: Best-in-Class Fundamentals & on Short List of Cos. Seeing Competitive Position Strengthen JACK 2020-07-08 8
Postmates Acquired by Uber Eats - Dara Redeems His Deal Making Legacy Just Weeks After Losing Grubhub – Promotions to Remain an Overhang 2020-07-06 4
Downgrading Several Casual Dining Segment Names to Hold - Jump in Case Counts, Reopening Reversals & Sales Data Through 6/28 Collectively Point to a Sales Recovery Backtrack in July 2020-07-01 15
Social Distancing Restaurant Consumer Survey Week 16 - COVID Backdrop Has Become Far More Harrowing Over Last 2 Weeks – But Through 6/26, Consumers Still Marching Forward 2020-06-29 7

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