THE HEDGEYE BREAKFAST MENU
Notable macro data points, news items, and price action pertaining to the restaurant space.
CPI ex-food and energy came in at 0.2%, in line with expectations. CPI grew 3.8% year-over-year, versus expectations of 3.6%.
Initial jobless claims came in at 428k versus expectations of 411k and 417k (revised) the prior week.
Restaurant significantly outperformed yesterday, but on low volume. The more cyclical FSR name were higher on accelerating volume
- YUM announced a 14% increase in its quarterly dividend. The increase raises the annual dividend rate to $1.14 a share, 2.1% yield.
- PNRA is changing its menu for the fall season, with a new Roasted Turkey Artichoke Panini one of the offerings. (link here)
- CMG’s new concept, ShopHouse Southeast Asian Kitchen will open to the public today in Washington D.C.’s DuPont Circle. Some images of the menu are below, courtesy of dcist.com
- CHUX has appointed former KONA CEO Marc Buehler as the O’Charley’s Concept President, effective tomorrow. Given how “on trend” Kona has been of late, this is a perplexing move.
- EAT traded higher on accelerating volume yesterday, while RRGB was notable on the decliners side, also trading on strong volume.