Raw Data Report: Famous Dave's, Applebee's

Includes: DAVE, IHP
by: TickerMine

Each day, Wall Street is flooded with stock research offering a multitude of conflicting investment opinions. As such, TickerMine is not in the business of providing more opinions. We believe that accurate raw data points can be used to gain insight in to the stock selection and valuation process.

Minimal Wait Times At Famous Dave's (NASDAQ:DAVE); Menu Needs An Overhaul

Famous Dave's of America, Inc., the restaurant known for its legendary pit barbeque, was polled by Tickermine researchers this month. This was after the company announced lower first quarter earnings thanks to poor spring weather and higher food costs. Our researchers asked what was the average wait time for customers, how much a party of two will spend, what is the most popular menu item, and how long this item has been around?

22 locations were consulted for the poll. Customers aren't waiting that long, our poll says, with eight respondents or 36% reporting no wait at all. Another eight respondents or 36% reported waits less than 10 minutes. Four respondents or 18% said customers can wait between 15 to 20 minutes and only two respondents or 9% reported waits from 30 to 35 minutes. The majority, 10 respondents or 45%, said a party of two will spend $35-$45, per meal. Eight respondents or 36% reported $20 -$30 as the norm, and only four respondents or 18%, said a party of two will spend over $50. Ribs sell best (10 respondents or 45%), followed by the All-American BBQ Feast (four respondents or 18%), the Texas Beef Brisket Sandwich (three respondents or 14%), the Barbeque Chicken (two respondents or 9%), and the following were each cited once or by 5% of those polled: the Ultimate BBQ Burger, Sweetwater Catfish, the Georgia Chopped Pork and the Ultimate BBQ Burger. The restaurant might need a menu overhaul however. All 22 respondents or 100% said these menu items had been around forever.

80% of Applebee's Restaurants Say Business is Same or Down From Last Month

Applebee's, the family restaurant owned by International House of Pancakes (IHP),was surveyed this month. 25 locations around the country were consulted about how long their customers wait, the average check for a party of two, the most popular menu items and whether business was up or down compared with last month.

13 respondents or 52% said the average customer wait was between five to 15 minutes long. Another six respondents or 24% of those polled said their customers wait as long as 20 to 30 minutes. Five respondents or 20% said there was no wait, and one respondent or 4% said their customers wait up to 40 minutes for a table. Most respondents, specifically 16 people or 64% of those polled, said a party of two spends a lowly $20-$30 per meal. Eight respondents or 32% said a check for two runs $35-$45 and only one respondent or 4% said it was more like $50. The Pick N Pair Lunch Combos were the most popular menu item according to the survey (five respondents or 25%), followed by the Ultimate Trio (four respondents or 16%) and hamburgers (three respondents or 15%).

The following each were mentioned by two people or 10% of those surveyed: Country Fried chicken, Mini Bacon Cheeseburgers, Oriental Chicken Salad and Steaks. And the following were each mentioned once or by 4%: Double Crunch shrimp, Fiesta Lime chicken, Orange Chicken, Riblets and Smothered Grilled Chicken. None of this however inspires more customers than normal. Five respondents or 20% said they saw more customers this month compared to last while 20 respondent or 80% said customers were less than or the same as a month ago.