Yesterday, 7:11 AM
- Cowen delivers some good news for the quick-service restaurant sector with its forecast that ground beef prices could fall 10% to 15% between 2018 and 2020.
- The investment firm warns that promotional pressure due to competition could pull at margins from the other direction.
- Cowen's top two QSR picks are Jack in The Box (NASDAQ:JACK) and Yum Brands (NYSE:YUM), according to Bloomberg. McDonald's (NYSE:MCD), Wendy's (NYSE:WEN) and Sonic (NASDAQ:SONC) also stand to benefit from a drop in ground beef prices.
- Related ETFs: BITE, MENU.
Thu, Dec. 8, 11:35 AM
- Donald Trump is expected to name CKE Restaurants CEO Andy Puzder as the labor secretary. An official announcement is expected shortly.
- Puzder can be expected to be sympathetic to restaurant companies on the crucial issues of minimum wages, overtime rules, the Affordable Care Act and franchiser joint employee rules.
- Related ETFs: BITE, MENU.
- Related stocks: MCD, YUM, PLKI, DENN, SONC, WEN, QSR, JACK, CBRL, WING, BOJA, DNKN, DRI, DPZ, PZZA, TACO, RT.
Thu, Dec. 8, 7:06 AM
- McDonald's (NYSE:MCD) announces it will relocate its EU tax base to the U.K. from Luxembourg.
- The company discloses in an e-mailed statement that a new holding company will be subject to U.K. tax.
Tue, Dec. 6, 7:57 AM
- McDonald's (NYSE:MCD) continues to see sales improvement in Japan.
- McDonald's Japan reports same-store sales increased 11.3% in November on an 8% increase in traffic.
- Same-store sales have been tracking higher at a double-digit clip all year.
- McDonald's Japan operates as a 50-50 joint venture between McDonald's and Fujita & Co.
Tue, Dec. 6, 5:15 AM
- McDonald's (NYSE:MCD) is looking to raise $1B-$2B with the sale of its China and Hong Kong stores after the U.S. fast-food chain decided to keep "a significant minority stake in the business," Reuters reports.
- The company picked a consortium led by Carlyle Group (NASDAQ:CG) and Chinese conglomerate Citic Group to buy the outlets, but its decision lowered the price tag for the stores from an expected $3B.
Mon, Dec. 5, 10:17 AM
- McDonald's (MCD +0.8%) says it will refresh its McCafe concept next year as it looks to keep pace with Starbucks and Dunkin' Donuts, according to Bloomberg.
- Marketing exec Kristy Cunningham says changes will include more coffee promotions and an increased push of the coffee rewards program.
- Shares of McDonald's are higher on the day with an upgrade from Nomura holding some weight.
- Previously: Nomura sees McDonald's running to new highs (Dec. 5)
Mon, Dec. 5, 7:28 AM
- Nomura lifts McDonald's (NYSE:MCD) to a Buy rating after having the restaurant stock set at Neutral.
- The investment firm sets a price target of $139 on MCD vs. the 52-week range of $110.33 to $131.96.
- Shares of McDonald's are up 0.67% to $119.03 in premarket trading.
Thu, Dec. 1, 8:41 AM
- A consortium led by China state-owned investment firm Citic and PE firm Carlyle is very close to striking a deal to buy McDonald's (NYSE:MCD) stores in China and Hong Kong.
- A deal price of between $2B and $3B is being reported by Financial Times.
- A finalized transaction is expected to be announced before Christmas.
- MCD -0.42% premarket to $118.77.
Tue, Nov. 29, 12:01 PM
- McDonald's (MCD -1.2%) is expanding its testing of using fresh beef at its restaurants.
- Never-frozen patties are now available at 75 restaurants in Oklahoma to follow on the initial pilot program in Dallas.
- There's no indication that the company has the ability to expand the concept nationally, but some analysts are already fretting.
- "I have major concerns over food safety and our lack of ability to serve a large number of customers quickly," Nomura analyst Mark Kalinwosku warned earlier this year about going from frozen to fresh.
Tue, Nov. 29, 8:08 AM
- Credit Suisse takes McDonald's (NYSE:MCD) off its Focus List, although it maintains an Outperform rating.
- The consensus price target on MCD from Wall Street firms stands at $126.21 vs. yesterday's close of $121.82 and the 52-week high of $131.96.
- The restaurant stock is heading into a bit of quiet period with no corporate events or presentations scheduled until Q4 earnings on January 23.
- MCD -1.17% premarket to $120.40.
Mon, Nov. 21, 9:28 AM
- JPMorgan thinks the recent rally in McDonald's (NYSE:MCD) may have played out the string on the restaurant stock.
- The investment firm removes MCD from it Analyst Focus list due to "limited" upside.
- JP sees capex spending as a potential drag.
- McDonald's closed right at $120 on Friday vs. the average Wall Street price target of $127. Shares are up 8.5% over the last four weeks.
Thu, Nov. 17, 12:52 PM
- McDonald's (MCD +0.1%) is planning to expand table service and self-ordering kiosks across all 14.2K U.S. stores after seeing solid results overseas and in domestic testing at 500 stores.
- The company will also debut mobile ordering in some key U.S. markets next year.
- Earlier this month, McDonald's tipped off that major changes were on the way through higher tech spending for automated kiosk and mobile platform development.
- CEO Steve Easterbrook tweeted a picture a few days ago of what appears to be a McDonald's ordering kiosk and a server with a handheld device.
- Previously: Developing: McDonald's to add table service to all U.S. restaurants (Nov. 17)
Thu, Nov. 17, 12:01 PM
- A Bloomberg headline indicates that McDonald's (MCD -0.3%) plans to bring table service to all U.S. restaurants.
- Details to follow.
Fri, Nov. 11, 8:44 AM| Fri, Nov. 11, 8:44 AM | 2 Comments
Wed, Nov. 9, 6:47 AM
- Voters in Arizona, Colorado and Maine voters approved boosting the minimum wage in their states to $12 per hour. Each state will see the hikes make their way to the $12 level after a series of graduated increases.
- The state of Washington approved increasing the minimum wage to $13.50 by 2020.
- The restaurant industry has already been under pressure, with labor costs as a percentage of sales on the rise. Other pockets of retail will also feel a sting from the higher minimum wage boost.
- Restaurant stocks: CAKE, CBRL, DNKN, DPZ, DRI, EAT, JACK, MCD, RRGB, RT, SONC, WEN, BWLD, BDL, QSR, CHUY, BLMN, PZZA, TXRH, DENN, KKD, BBRG, DFRG, BOBE, RUTH, IRG, DIN, HABT, NDLS, BOJA, PBPB, PLKI, FRSH, RAVE, LOCO, TACO, PZZA, KONA, BGR, BJRI, CHUY, FRS, CBRL, GTIM, TAST, WING, BOJA, ZOES, FOGO, ARCO, SHAK, YUM.
- Retail stocks: TGT, WMT, BIG, FIVE, DG, DLTR.
- Related ETF: BITE.
Fri, Nov. 4, 2:25 PM
- McDonald's (MCD -0.3%) says it stopped developing the Create Your Taste customization platform in the U.S. The customization concept was rather controversial with franchisee operators not keen on the operational end of the plan.
- The company is moving in the direction of expanding the Taste Crafted concept started in 2015 (also called Signature Crafted recipes). Available in beef or chicken sandwiches, the Taste Crafted menu includes Signature Buffalo Bacon, Pico Guacamole, Maple Bacon Dijon and Deluxe flavor options as well as three different bun varieties.
- Taste Crafted is only available at select California locations so far.