Notable news items and price action from the restaurant space, including our fundamental view on select names.
Investors are paring back bets on rising agricultural prices has supply concerns ease on recent commentary that revealed better supply metrics than previously assumed.
- DNKN sees revenues of $155m to $158m for the quarter ended June 25, based on available information, according to an amendment to the company’s S-1 filed this morning. Additional information included expected net income of $16.4m - $17.4m, Dunkin’ Donuts U.S. comp sales up 3.5% to 4.0% y/y and Baskin-Robbins U.S. comp sales down 2.5% - 3.2% y/y. The IPO size was boosted to $460m from $400m.
- MCD operator (Latin America) Arcos Dorados Holdings Inc. issued five-year real-linked bonds to yield 10.25% on Friday.
- CBRL has announced a new five-year $750 million bank credit line. This should result in added interest charges of $5m in the fourth quarter.
- BWLD gained on accelerating volume during Friday's trading session.