Notable news items and price action from the last twenty-four hours
- SBUX CEO Howard Schultz spoke at an event in San Francisco last night and spoke on the need for companies to do more for staff benefits, the importance of local relevancy in China, and the mistakes SBUX has made in China.
- PFCB was upgraded yesterday to “Buy” from “Neutral” at Janney Montgomery. The stock gained on accelerating volume yesterday.
- RUTH gained 2% on accelerating volume yesterday.
- CMG has chosen Rokkan, a New York-based digital agency, for several digital marketing and brand awareness initiatives for 2011. Rokkan will be working with CMG to develop its digital marketing and execution including online sales, customer service infrastructure, local store marketing strategy, and out-of-store ordering through mobile and web on Chipotle.com.
- Pret A Manger continues to grow in the U.K. despite the shrinking services industry in that country.
- As a result of the Latin America beverage agreement, PepsiCo will now become the largest soft drink provider for BKC restaurants in LatAm markets.
- BNHNA results released yesterday revealed that, for the third four-week period, both total restaurant sales and Company-wide comparable restaurant sales increased 7.0% to $27.9 million from $26.1 million, representing the fourteenth consecutive period of comparable restaurant sales growth.
- DENN said that its board has approved a 6m share repurchase program.
Howard Penney
Managing Director