Notable macro data points, news items, and price action pertaining to the restaurant space.
The August slump in consumer confidence, first indicated by the University of Michigan and Bloomberg Weekly Consumer Comfort data, was confirmed yesterday by the Conference Board Consumer Confidence Index which came in at 44.5 versus expectations of 52.
Food processors and QSR stocks outperformed peer subsectors yesterday. Food retail was led lower by Winn-Dixie, which corrected after a significant increase in the stock price ahead of earnings post-close on Monday.
MCD is changing its strategy in China to accommodate changing conditions in the industry, according to China Daily.
KKD is stepping into the coffee wars in a big way with three new signature coffees debuting this week, and a new marketing campaign set for Friday. According to NRN.com, the 669-unit, Winston Salem, N.C.- based chain will offer its signature house blend, dark roast and house decaf varieties just as the competitive coffee market is dominated by the likes of Dunkin’ Donuts, Starbucks and McDonald’s.
The “better burger” revolution! According to Technomic which has labeled the upstarts in the sandwich category the "better burger" chains have taken over the top slots on their list of fastest growing limited-service burger restaurants, including places likeShake Shack (133% growth), Smashburger (116% growth) and Mooyah Burgers & Fries (54.5% growth).