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Monday Mashup - 11

Recent Notes

03/30/15 Monday Mashup

04/02/15 MCD: Still Lacking Direction

04/02/15 New Best Idea: Long ZOES

Events This Week

Tuesday, April 7

  • PLAY earnings call 5:00pm EST

Thursday, April 9

  • RT earnings call 5:00pm EST

Recent News Flow

Monday, March 30

  • PLKI introduced the new Red Stick Chicken to its menu as an LTO.  Four premium tenderloins marinated in a cayenne and Tabasco marinade will be served with Cajun Fries, a Buttermilk Biscuit, and Smok’n Pepper Ranch dipping sauce for just $3.99.
  • DNKN announced its new commitment to transitioning to 100% cage-free eggs globally.  10% of all eggs sourced for its breakfast sandwiches in the U.S. will be cage-free by the end of the year.  DNKN also made a commitment to source only gestation crate-free pork in the U.S. by 2020.
  • MCD will begin testing all day breakfast in the San Diego area in April.

Tuesday, March 31

  • COSI hired Miguel Rossy-Donovan as its new CFO.  Rossy-Donovan will join Cosi from Teach of America, where he has served as Chief Finance & Administration Officer for the past ten years.
  • WEN has agreed to submit management-supported proxy access amendments to its By-Laws.  The amendments would allow a stockholder, or group of up to 25 stockholders, owning 3% or more of the company continuously for at least three years to nominate directors nominees making up to 20% of the Company’s board, given certain conditions are met.

Wednesday, April 1

  • DENN announced the launch of a new kids menu that will feature popular DreamWorks Characters from televisions shows and movies such as Penguins of Madagascar, Puss In Boots, and Turbo FAST.
  • NDLS introduced BUFF Bowls to its menus nationwide.  The new BUFF Bowls are low carb and high protein versions of popular NDLS dishes (Japanese Pan, Whole Grain Tuscan Fresca, Pesto Cavatappi, and Bangkok Curry).
  • MCD plans to raise its pay for U.S. company-owned restaurant workers by more than 10% as well as offer a paid vacation benefit.
  • DENN established a new $250 million credit facility and increased its share repurchase authorization by an additional $100 million of its common stock.
  • JMBA reached an agreement with Vitaligent to refranchise 100 company-owned restaurants in the San Francisco, Sacramento, and San Diego markets in exchange for $36 million cash.  JMBA is on track to complete its refranchising program in 1H15.

Thursday, April 2

  • JMBA announced the termination of it stockholder rights agreement after feedback from investors and considering its current corporate governance practices.


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Sector Performance

The XLY outperformed the SPX. Both casual dining and quick service stocks, in aggregate, underperformed the XLY.

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Quantitative Setup

From a quantitative setup, the XLY remains bullish on an intermediate-term TREND duration.

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Casual Dining Restaurants

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Quick Service Restaurants

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