CASUAL DINING SALES
APRIL 2022 ESTIMATES USING THE COMPARISON 2022 VS. 2020 (IN APRIL 2022 VS. 2021)
COMPARABLE SALES COMPARABLE GUEST COUNTS
USA 6.8% 0.7%
CALIFORNIA 18.4% 10.9%
TEXAS 1.6% -4.1%
FLORIDA 6.9% 0.8%
Notable in April was CA slowing from 40% in March to 18% in April
MCD Russia
After a 30-year run, McDonald's Corporation plans to exit the Russian market after Ukraine's invasion.
MCD has initiated a process to sell its entire portfolio of Russian business to a local buyer following its announcement on March 8, 2022, to temporarily closed restaurants in Russia and pause operations in the market. The company expects to book a charge of approximately $1.2B-1.4B to write off its net investment in the market and recognize significant foreign currency translation losses previously recorded in shareholders' equity; It Expects operating margin to be in the 40% range as a result of the charge for Russia and adjusted operating margin to be in the mid-40% range; Net restaurant unit expansion will contribute about 1.5% to 2022 Systemwide sales growth in constant currencies; over 1,300 net restaurant additions in 2022; Capital expenditures to be approximate $2.1B to $2.3B.
SBUX Insider buying
SBUX is a SHORT, and Howard buying does not change that.
It was a bit of good news for SBUX after it was disclosed that interim CEO Howard Schultz bought $10 million worth of stock this week. According to a regulatory filing, Schultz purchased 137,500 shares on Tuesday in two transactions for prices of $72.61 and $73.10 a share. Schultz, the founder of Starbucks, returned as CEO for the third time early last month after former CEO Kevin Johnson announced his retirement in March.
