One of Wall Street’s most respected analysts explains why the casual dining downturn is still in the early innings this morning on The Macro Show,.

Hedgeye Consumables analyst Howard Penney discusses how the current inflationary environment is signaling a steep decline in the casual dining sector. He believes that it only gets worse from here.

“The inflation pressures across the board are more significant than anytime I have seen in my career,” Penney says.

“You can see a really significant slowdown in mall visits… that will impact companies that have significant exposure to malls, like Cheesecake Factory (CAKE) and Red Robin (RRGB).”

Penney: ‘Inflation Pressures Biggest I’ve Seen In My Career’ - Hedgeye University

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