05/04/15 Monday Mashup
05/05/15 CHUY: Pulling a Rabbit out of a Hat
05/05/15 NDLS: Earnings Disaster
05/06/15 WEN: Making All the Right Moves
Events This Week
Tuesday, May 12
- ARCO earnings call 10:00am EST
- DNKN Annual General Meeting 10:00am EST
- JMBA Annual General Meeting
Wednesday, May 13
- SHAK earnings call 5:00pm EST
- DFRG Annual General Meeting 10:00am EST
- CMG Annual General Meeting
- YUM Investor Conference (China Day 1)
Thursday, May 14
- JACK earnings call 11:30am EST
- COSI earnings call 5:00pm EST
- LOCO earnings call 5:00pm EST
- PBPB Annual General Meeting
- YUM Investor Conference (China Day 2)
Recent News Flow
Monday, May 4
- BOBE price target was decreased to $68 from $75 at APB Financial due to slower than anticipated cost cutting and continued operational weakness.
Wednesday, May 6
- WEN announced its intention to refinance its existing credit agreement through a securitization. The company will use some of the net proceeds of the facility (~$1.1 billion) to return cash to shareholders.
- WING Wingstop filed for an $86.3 million IPO through Morgan Stanley, Jefferies and Baird.
Thursday, May 7
- KKD entered an agreement to open 12 shops in Guatemala over the next four years.
Friday, May 8
- MCD reported April global comps of -0.6% vs the consensus estimate of -1.9%. The US, Europe, and APMEA regions all outperformed consensus expectations.
The XLY (+0.33%) slightly underperformed the SPX (+0.37%) last week. Casual dining stocks, in aggregate, undperformed the XLY, while quick service stocks outperformed.
From a quantitative perspective, the XLY remains bullish on an intermediate-term TREND duration.
Casual Dining Restaurants