12/22/14 Monday Mashup: BOBE, RT and More
12/23/14 Industry-Wide Comp Outlook (2015)
12/23/14 Statement Analysis (Replay)
12/29/14 Monday Mashup: 'Tis the Season
Events This Week
Tuesday, January 6th
- SONC earnings call 5pm EST
Thursday, January 8th
- RT earnings call 5:00pm EST
Chart of the Day
Recent News Flow
- BOBE upgraded to buy at Janney Capital with a $60 PT.
- DPZ upgraded to buy at Janney Capital with a $110 PT.
- LOCO upgraded to outperform at RW Baird with a $34 PT.
- PBPB upgraded to outperform at RW Baird with a $17 PT.
- BWLD PT increased to $205 from $180 at UBS.
- BWLD downgraded to neutral at RW Baird with a $180 PT.
- SBUX downgraded to neutral at Janney Capital with an $85 PT.
Monday, December 29th
- SONC announced a new agreement (with Fast Eats, LLC) for franchise development of eight new drive-ins in the Albany, NY, area over the next seven years.
- DFRG Double Eagle Steak House was named to OpenTables list of the 100 best restaurants and 100 best steakhouses in America.
- DAVE announced the closure of three restaurants in the Richmond, VA area and anticipates incurring impairment charges at up to four additional company-owned restaurants. The closure of the three Richmond locations would have been accretive to full-year diluted adjusted EPS by $0.04 and same-store sales by +0.5% had they been closed at the beginning of the year.
- COSI director Michael O'Donnell announced his departure, effective Jan. 1st. Mr. O'Donnell will be replaced by an independent restaurant expert, David Lloyd, of Highland Consumer Fund.
The XLY (-0.3%) outperformed the SPX (-1.1%) last week, as both casual dining and quick service stocks, in aggregate, outperformed the XLY.
XLY Quantitative Setup
From a quantitative perspective, the XLY remains bullish on an intermediate-term TREND duration.
Casual Dining Restaurants