SHAK Activist DECK Today
Shake Shack (SHAK) is a Hedgeye Restaurants Best Idea Short.
Tomorrow at 2 PM, we will be hosting a SHAK activist black book going through our understanding of the current setup for the company and why we are short.
EVENT DETAILS:
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DPZ New Technology
DPZ unveiled a new technology on Tuesday that it says will make it easier to deliver to customers in hard-to-reach regions like parks, baseball fields, and beaches that do not have a specific address. The pizza chain said a new feature in the Domino's app called Domino's Pinpoint Delivery would allow customers to drop a pin on the map and get pizza delivered virtually anywhere. DPZ is to be the first quick-service restaurant brand in the U.S. to deliver food to customers using the pin technology. Domino's Pinpoint Delivery allows customers to track their order with Domino's Tracker, see their driver's GPS location, view an estimated arrival time, and receive text alerts about their delivery. Domino's (DPZ) will also alert customers when their delivery expert arrives at the pickup spot. They can activate a visual signal on their phone, which will help the driver spot them.
DRI EARNINGS
The most crucial commentary coming from DRI will be guidance and how sales have been trending since the end of the quarter. Expectations are for 2.8% SSS for fiscal 2024, which seems reasonable.
DRI will report 4Q23 earnings tomorrow with EPS estimates of $2.54, up 13.4%, and revenues of $2.769, up 6%. Company comps of +4.3%, with Olive Garden +5.0% and Longhorn +4.9%. Restaurant margin of 21.5% versus 20.7% last year and Operating margin of 13.6% versus 13% last year.
