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Monday Mashup - CHART 1

RECENT NOTES

7/30/15 BLMN | ANOTHER BACK HALF MISS?

7/30/15 PNRA | THE EVOLUTION CONTINUES

7/29/15 BWLD | COVERING THE SHORT

7/27/15 MCD | THE GAME CHANGER | ALL DAY BREAKFAST (ADB) SURVEY RESULTS

7/24/15 MCD | RIGHT ON TRACK

RECENT NEWS FLOW

Friday, July 31

RUTH | Delivered a nice quarter on Friday, with SSS growth of 4.2% versus consensus estimates of 3.3%, built by a traffic increase of 0.7% and an increase in average check of 3.5% (click here for press release, or here for news article)

Thursday, July 30

FRGI | Reported 2Q15 results, SSS increased 4.3% at Pollo Tropical versus consensus estimates of 5.1% and 5.6% at Taco Cabana versus consensus estimates of 4.4% (click here for press release, or here for news article)

Wednesday, July 29

WEN | Testing antibiotic-free chicken in certain markets (click here for article)

JMBA | Provided an update on refranchising efforts, expects to be 90% franchised organization by the end of 2015 (click here for article)

PNRA | Reported strong 2Q15 results, and an even better outlook for the next 12-18 months, refer to our earnings summary here for more detail

Tuesday, July 28

Minimum wage increases continuing to spread across the country (click here for article)

Monday, July 27

DRI | Names Todd Burrowes, former RT COO, as president of LongHorn Steakhouse (click here for article)

PLKI | Focusing on value, bringing back Rip’n Chick’n for only $3.99 (click here for article)

SECTOR PERFORMANCE

Casual dining and quick service stocks, in aggregate, outperformed the XLY last week. The XLY was up 1.7%, top performers from casual dining were BWLD and FRGI posting an increase of 13.6% and 13.1%, respectively, while SHAK and PNRA led the quick service pack, up 18.6% and 9.7%, respectively.

Monday Mashup - CHART 3

Monday Mashup - CHART 4

QUANTITATIVE SETUP

From a quantitative perspective, the XLY remains bullish on a TRADE and TREND duration.

Monday Mashup - CHART 2

CASUAL DINING RESTAURANTS

Monday Mashup - CHART 5

Monday Mashup - CHART 6

QUICK SERVICE RESTAURANTS

Monday Mashup - CHART 7

Monday Mashup - CHART 8