Management teams are finally acknowledging in their latest earnings reports the negative economic trends Consumables analyst Howard Penney and Gaming, Lodging & Leisure analyst Todd Jordan have been warning about for months.
This morning on The Call @ Hedgeye, Penney said declining consumer traffic overshadows any positive figures from Monday’s McDonald's (MCD) report.
Jordan adds there are no signs of business travel picking back up to save Marriott (MAR) and Pebblebrook (PEB). Both stocks are currently on his “Best Idea” short list.
"Since July, Penney kept saying this is going to end with very negative restaurant traffic, negative sales, negative stock performance,” Keith McCullough explained later on The Macro Show. “Todd Jordan said the same thing about business travel, transient travel, individual travel. Now, it's all happening."
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