Notable news items and price action from the past twenty-four hours.
- SONC reported $0.02 adjusted versus $0.03 expectations. Revenues also came in a little light, $113.5m versus $114.5m despite comps turning positive, as preannounced, and management guiding to positive comps in the back half of the fiscal year despite increasing difficulty in year-over-year compares.
- BWLD, not surprisingly, is kicking off a “grass roots” movement to “save our season” so that the fans can enjoy the football season from which BWLD derives so much of its traffic.
- SBUX has lost some of its “buzz”, apparently. Market research firm, YouGov BrandIndex, are not clear on the cause of the recent swoons in public perception but suspect that news around higher packaged coffee prices may be impacting consumer view.
- COSI traded up, on strong volume, after trading poorly for much of the last month.
- RRGB traded up 2.4% on accelerating volume. MRT, PFCB, and RT traded down on accelerating volume.
Howard Penney
Managing Director
