Recent Notes
03/16/15 SHAK: NYC is Not the Center of the Universe
03/16/15 Monday Mashup
03/17/15 DRI: Expectations of Hope and Change
Events This Week
Monday, March 23rd
- Telsey Advisory Group Spring Consumer Conference: DPZ
Tuesday, March 24th
- Telsey Advisory Group Spring Consumer Conference: DENN
- SONC earnings call 5pm EST
Wednesday, March 25th
- Telsey Advisory Group Spring Consumer Conference: DRI
Thursday, March 26th
- CIBC Retail & Consumer Conference: QSR
- COSI earnings call 5pm EST
Recent News Flow
Monday, March 16th
- RRGB promoted Denny Marie Post to Executive VP and Chief Concept Officer and appointed Lee Dolan Senior VP and Chief Marketing Officer.
- JMBA filed a form 12b-25 to extend the filing date for its 2014 Form 10-K. The company plans to report in this 10-K that, at the end of 2014, material weakness existed in its control over financial reporting due to insufficient finance and accounting resources in the organization.
- BLMN appointed Gregg Scarlett as Executive VP of Bloomin’ Brands and President of Bonefish Grill. Stephen Judge plans to leave the company, after a transition period, to pursue other interests.
Tuesday, March 17th
- BJRI upgraded to outperform at Wedbush Securities with a $63 PT.
Wednesday, March 18th
- SBUX announced that its Board of Directors declared a two-for-one stock split and will begin trading on a split-adjusted basis on April 9, 2015.
- SBUX and Tingyi Holding entered into an agreement to manufacture and expand the distribution of Starbucks ready-to-drink products throughout mainland China.
Friday, March 20th
- TAST initiated buy at Dougherty & Co. with a $10.50 PT.
Commodities
Sector Performance
The SPX (+2.7%) outperformed the XLY (+2.1%) last week. Both casual dining stocks and quick service stocks, in aggregate, underperformed the SPX.
Quantitative Setup
From a quantitative perspective, the XLY remains bullish on an intermediate-term TREND duration.
Casual Dining Restaurants
Quick Service Restaurants
