Notable macro data points, news items, and price action pertaining to the restaurant space.
Gasoline prices continue to shadow the trend of 2008.
Full service restaurants underperformed peer subsectors despite a significant gain of +22.8% day-over-day for KONA on an upgrade.
CMG dipped yesterday as speculation mounted that the 7% gain following the opening of Chipotle’s new concept, ShopHouse Southeast Asian Kitchen, was overdone.
DPZ announced yesterday that after three months of operation, the new Domino’s App for iPhone and iPod Touch has achieved $1 million in sales in a single week.
SBUX is planning to build a “major multibillion-dollar business in the grocery industry”, according to Howard Schultz, cited in German newspaper Spiegel.
SBUX is set to see margin expansion due to the single-serve business, according to Piper Jaffray.
WEN was reiterated “Overweight” by Barclays.