TALES OF THE TAPE: MCD, YUM, KONA, DIN

06/08/11 08:31AM EDT

Notable news items and price action from the restaurant space as well as our fundamental view on select names.

  • MCD global comparable store sales rose 3.1% in May versus consensus of 3.6%.  U.S. comps were up 2.4%, below the street’s estimate of 2.9%.  Europe comparable restaurant sales great 2.3% versus 4% consensus.  Finally, APMEA comparable restaurants sales great 4.3% versus 4% consensus.
  • YUM’s Taco Bell CEO Greg Creed insists that Taco Bell does not compete with Chipotle just as Hyundai does not compete with BMW.
  • KONA and DIN were notable underperformers during yesterday’s session, trading down -5.3% and -2.4%, respectively, on accelerating volume.
  • According To NRN.com, the foodservice industry is forecast to add 425,000 jobs over the summer, reflecting the healthiest summer employment picture since 2007. 

TALES OF THE TAPE: MCD, YUM, KONA, DIN - stocks 68

Howard Penney

Managing Director

© 2024 Hedgeye Risk Management, LLC. The information contained herein is the property of Hedgeye, which reserves all rights thereto. Redistribution of any part of this information is prohibited without the express written consent of Hedgeye. Hedgeye is not responsible for any errors in or omissions to this information, or for any consequences that may result from the use of this information.