Notable macro data points, news items, and price action pertaining to the restaurant space.
Macro
Commodities
Rising food prices that defy easing global inflation may challenge policy makers in countries including China to control costs without hurting economic growth, according to Bloomberg.
According to CattleNetwork.com, cattle feeding margins and beef packing margins both declined substantially last week as boxed beef cutout prices dropped.
Subsectors
The Beverage space outperformed its food, beverage, and restaurant peers yesterday as SODA led the group higher. SODA has declined almost 50% since its early August peak but was upgraded yesterday and traded up 5.2% yesterday.
QUICK SERVICE
- MCD Japan’s August same-store sales declined 8.2%.
- MCD global same-store sales results for August are being released this morning. The Street is looking for 5.0%, 4.5%, 6.0%, and 3.7% for the Global, U.S., Europe, and APMEA, respectively.
- MCD is facing a PR challenge after one person was left dead and nine sickened after breathing toxic fumes in the restroom of a McDonald’s restaurant in South Georgia. The current theory is that the fumes were caused by cleaning chemicals but an investigation is underway.
CASUAL DINING
- PFCB presented at the William Blair & Company Emerging Growth Stock Conference yesterday. The company has enlisted a call center for to-go orders and also said that mobile and online orders have higher check average.
