Notable news items and price action from the restaurant space as well as our fundamental view on select names.
- CBRL was downgraded by BofA.
- SBUX brand Seattle’s Best Coffee LLC and Borders have ended their licensing agreement after a judge ruled to allow the move. Seattle’s Best Coffee had asked a U.S. bankruptcy court this week to reject a plan by Borders to end its licensing agreement with the coffee operator.
- Nespresso has raised coffee pod prices in the U.S. and Europe.
- Next time you’re in China, head to KFC for the new dish being advertised as a “Taste of Ireland”: fried chicken smothered in Bailey’s liqueur.
- PZZA gained on accelerating volume yesterday.
- AFCE, DRI, CBRL, DIN, and RRGB declined on accelerating volume.
Howard Penney
Managing Director
