THE HBM: DNKN, THI, BWLD

THE HEDGEYE BREAKFAST MONITOR

MACRO NOTES

Commodities

While coffee prices gained over the same timeframe, world coffee exports rose 9.4% in 2010-2011, according to the International Coffee Organization.   This is a bullish signal for demand.

 

SUBSECTOR PERFORMANCE

THE HBM: DNKN, THI, BWLD - subsector fbr

QUICK SERVICE

DNKN:  Dunkin’ Brands posted Q3 EPS of $0.28 ex-items vs Reuters $0.25.  The company got to the $0.28 number when adjusting for a $14.7m sponsor termination fee and $7m amortization of other intangible assets charge.  Dunkin’ Donuts US comparable store sales growth was +6.0% versus SA Consensus of +3.3%.  The company also announced a secondary offering of 22 million shares.

THI: The National Hockey League today announced a deal with Tim Hortons that gives the quick-service chain title sponsorship of the 2012 NHL All-Star Game in January -- a move that will likely ease the path for other leagues who are exploring presenting or title sponsorship deals for their marquee events.

CASUAL DINING

BWLD: Buffalo Wild Wings announced the opening of its 800th restaurant nationwide with the simultaneous opening of restaurants in Florida, Tennessee, Washington and California.

THE HBM: DNKN, THI, BWLD - stocks nov1

Howard Penney

Managing Director

Rory Green

Analyst