10/27/14 Monday Mashup: BWLD, BJRI and More
10/28/14 New Best Idea: Short CHUY
10/31/14 SBUX: Short Thesis Firmly Intact
Events This Week
Monday, November 3rd
- TXRH earnings call 5:00am EST
Tuesday, November 4th
- BKW earnings call 8:30am EST
- BLMN earnings call 9:00am EST
- ARCO earnings call 10:00am EST
- RRGB earnings call 10:00am EST
- FRGI earnings call 4:30pm EST
- JMBA earnings call 5:00pm EST
- PBPB earnings call 5:00pm EST
- CHUY earnings call 5:00pm EST
Wednesday, November 5th
- PZZA earnings call 8:00am EST
- DAVE earnings call 8:30am EST
- TAST earnings call 8:30am EST
- THI earnings call 10:30am EST
- RUTH earnings call 4:30pm EST
- NDLS earnings call 4:30pm EST
Thursday, November 6th
- WEN earnings call 9:00am EST
- LOCO earnings call 4:30pm EST
- BBRG earnings call 5:00pm EST
Chart of the Day
SBUX global traffic has now decelerated for five consecutive quarters, coming in at 1% in 4QF14.
Recent News Flow
Monday, October 27th
- DIN upgraded to buy from neutral at Longbow.
- DIN increased its quarterly cash dividend by 17% to $0.875 per share of common stock; share repurchase authorization increased to $100 million.
- PLKI announced the launch of its new Buttermilk Biscuit Butterfly Shrimp.
Tuesday, October 28th
- CAKE announced the opening of its newest restaurant (8,000 sq. ft.) at the Fayette Mall in Lexington, Kentucky.
- BWLD upgraded to outperform at RW Baird with a $180 PT.
Wednesday, October 29th
- DIN downgraded to market perform at Telsey Advisory Group.
- JMBA upgraded to outperform from neutral at Wedbush with a $17 PT.
- LOCO names Mark A. Belanger, CFE, as Vice President, Franchise. Belanger will oversee the company's franchising efforts, including sales and franchisee relations.
Thursday, October 30th
- EAT declared a quarterly dividend of $0.28 per share which will be payable Dec. 26, 2014 to shareholders of record as of Dec. 5, 2014.
The XLY (+2.6%) underperformed the SPX (+2.7%) with both casual dining and quick service stocks, in aggregate, outperforming the SPX.
XLY Quantitative Setup
From a quantitative setup, the sector remains bearish on an intermediate-term TREND duration.
Casual Dining Restaurants
Quick Service Restaurants