Notable macro data points, news items, and price action pertaining to the restaurant space.
Full service restaurants outperformed for a second straight day. Over the past three months, the subsector has been severely beaten down, declining almost 13%.
- WEN is testing four prototypical new store designs, one of which is described in an article posted on QSRweb.com yesterday. MCD is clearly putting pressure on competitors to keep up with its modernization of its store base.
- MCD advertisements shown by Channel Seven in Australia during children’s TV programming have earned the broadcaster censure from the broadcasting watchdog.
- MRT was reiterated “Overweight” at Piper Jaffray with a $9 price target. “Travel data” was highlighted as a key factor in the “high-end consumer recovery thesis” related to this stock.