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Restaurants: Recognizable Realities In 2015
- Restaurants were said today to be a leading indicator of investment market power in 2015.
- Five recognizable realities exist in the space that are both challenges and addressable opportunities.
- Insufficient restaurant profit flow-through rates, M&A upside and downside, dysfunctional early IPO valuations, franchisor overfishing and CAPEX measurement are issues.
Restaurant Franchise Investments Require Detailed Due Diligence
- Recent Businessweek article on Burger King Lacks Detail.
- Much More Franchisor Investor Due Diligence Necessary.
- Commonly Used Metrics Must be Parsed.
Red Lobster Levers
- No one should have been surprised by the Darden Red Lobster sale to private equity.
- The Red Lobster outcome confirms brand management problems at Darden.
- Several Red Lobster levers to improvement exist.
Activists Vs. Darden: Look Beyond The Real Estate
- Think beyond Darden's real estate to determine if long term value is present.
- Both the activists and Darden provided incomplete analysis.
- Restaurant level EBITDA is a poor metric; free cash flow metric is better.
- McDonald's Real Estate Model Realities
- Get Off The Comp Number, Better Earnings Q&A Is Possible
- Is Noodles The New Chipotle?
- 2013 Restaurant Standouts And What's Next
- Restaurant Conditions: Comps Cliff Coming
- Burger King Battles For Market Share
- Memo To McDonald's: Fix The Reporting
- Pure Play Restaurant Franchisors Reporting
- Restaurant Margins: Rising Commodity Costs Are Workable
- Restaurant Earnings Fundamentals: 6 Standouts
- Restaurant Same Store Sales Misses, Marketing Miscues?
- Bill Ackman And Burger King: Hopeful
- For Benihana, Metrics Matter
- 2012 Restaurant Space Themes
- Biglari On Biglari
- Biglari Vs. Cracker Barrel: Battle Of Restaurant Analytics
- Chipotle: Not Just A Fast Food Joint
- Red Lobster Achieves Rare Same-Store Sales 'Pop'
- Restaurant Recap: Q2 Earnings So Far
- Steak House Conundrum: Sales Are Up and So Is the Cost of Beef
- Restaurant Chain Sonic Sends Mixed Messages
- Yum Brands Acquisition of Little Sheep: Company vs. Franchise Operations
- Arcos Dorados IPO: Economics for McDonald's Latin America Franchisee
- Private Equity Firms and Restaurants: Motivations, Results Thus Far
- Chain Restaurant Earnings and Fundamentals Update, February 2011
- Yum Foods, Wendy's and Multi-iBrand Operator Decombination
- McDonald's Mania Is Overblown
- Some Barriers to Sonic's Improvement