Restaurants Research

Title Tickers Date Pages
CBRL: Cracker Barrel - Updating SSS & EPS for Daunting NT Reality; Retail Biz & Suspension of Best-in-Class Div Pose Unique Recovery Headwinds CBRL 2020-04-02 7
BLMN: Bloomin Brands, Inc. - Updating SSS & EPS Estimates to Reflect Sobering Near-Term Reality; With $400 Million in Cash – BLMN Will Weather the Storm BLMN 2020-04-01 8
International Third-party Delivery COVID-19 Deep Dive - International Third-party Delivery Companies Feeling the Negative Effects of Social Distancing 2020-04-01 17
Analyzing the Impact of COVID-19 On Third-party Delivery (pt. 3) - Delivery App Downloads Picking Up, but Not Usage 2020-03-31 6
CAKE: Cheesecake Factory - Upgrading to Buy: Leadership in Disclosing Labor & Rent Hurdles Drives Exaggerated Sell-Off – Dominant Mall Anchor Will Survive CAKE 2020-03-31 8
EAT: Brinker International - Updating SSS & EPS Estimates for Harsh Near-term Reality; Leverage High, but we Expect EAT to Have Access to Remaining Facility $ EAT 2020-03-31 8
DPZ: Domino's Pizza Inc - DPZ Just Reported the Best 1Q U.S. Comp the Sector Will See (+1.6%), but Strong Number Expected; We See SSS Softening in 2Q DPZ 2020-03-30 5
Social Distancing Restaurant Consumer Survey: Week 3 - Tracking the Restaurant Consumer Response to COVID-19 with Survey of 300+ Households - Week 3 Takeaways 2020-03-30 7
Tracking Company Exposure to Growing Global Case Count - U.S. & China Have Dominated Investor Attention, but Europe Case Count Jumping – MCD, PZZA and DPZ Most Exposed 2020-03-30 5
Shelter in Place Jumping, Greater QSR SSS Declines to Follow - State-by-State Restaurant SSS for Week-ended March 21: Suggests Accelerating Shelter-in-Place Mandates Will Turbo Charge Declines 2020-03-27 4
Seeing the Forest Through the Trees in a COVID-19 World - A Closer Look at the Quickly Evolving Off-premise Strategies Being Pursued by the 65 Largest U.S. Restaurant Concepts 2020-03-26 7
DRI: Darden Restaurants - Upgrading to Buy from Hold: 55% Sell Off Overdone in Context of Strong Relative Balance Sheet/Liquidity & SSS Recovery Prospects DRI 2020-03-25 7
TXRH: Texas Roadhouse - Upgrading to Buy from Underperform: Best-in-class SSS Recovery Prospects, Liquidity & Balance Sheet Health Too Hard to Ignore TXRH 2020-03-25 8
Analyzing the Impact of COVID-19 On Third-party Delivery (pt.2) - Mobile App Data has yet to Show Coronavirus-driven Spike in Engagement 2020-03-24 6
Casual Dining Closure Update: 41 State Mandates (90% U.S. Pop) - Statewide Restaurant Closure Mandates Further Accelerate: 90%+ of Casual Dining Restaurants Are Now Off-Premise Only 2020-03-23 4
Social Distancing Restaurant Consumer Survey: Week 2 - Tracking the Restaurant Consumer Response to COVID-19 with Survey of 300+ Households – Week 2 Takeaways 2020-03-23 6
DRI: Darden Restaurants - Market Was Braced for Scary SSS & Got Them: Clarity on Liquidity, Cash Flow & Potential Govt. Assistance for Segment Welcome DRI 2020-03-19 6
DRI: Darden Restaurants - Guidance Pulled, $1B in Cash on Balance Sheet: All Eyes on Closure Detail, Cost Structure for Near Empty Restaurants & Cash Burn DRI 2020-03-19 4
Casual Dining Doors Closing Quickly – What We Know Now - Pace of Statewide Restaurant Closure Mandates Has Hit Tipping Point: De Facto Nationwide Closure Mandate Looking Inevitable 2020-03-18 4
MCD: McDonald's - MCD Closing U.S. Restaurant Interiors: With 75% of Sales Coming Through Drive Thru – Company Well Positioned to Weather Storm MCD 2020-03-17 6

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