Thursday, May 2, 7:30 PMCEC Entertainment (CEC): Q1 EPS of $1.90 beats by $0.08. Revenue of $255.3M (+3.4% Y/Y) beats by $7.52M. (PR)
Comment![Earnings, Breaking News]
Friday, April 12, 9:51 AM
Restaurant sales trends improved in March but remain "fragile," according to a new report from Black Box Intelligence. The sector saw a same-store sales increase of 0.5% during the month compared to February’s decline of 5% - while traffic decreased 2% compared to a 4.2% drop in February.
Comment![Consumer]
Wednesday, April 10, 2:17 PM
Restaurant visits by parties of adults grew by 1% last year to end four consecutive declines in the category but visits with children in tow showed flat growth once again, according to tracking from the NPD Group. A tripping point for the sector has been the lack of growth in visits by parties with kids. What to watch: Analysts see increased promotional activity sneaking in on the industry's margins.
5 Comments[Consumer]
Monday, March 25, 2:30 PM
Restaurant blues: The consensus estimate of economists for consumer spending growth in February is for a 0.6% gain after the measure rose 0.2% in January but don't expect restaurants to report strong numbers for Q1. Inside tracking and guidance warnings from key companies indicate that the sector is feeling the pressure of higher payroll taxes. Major chains also face a tough period of comparable with last year's winter much milder on average in the U.S.
4 Comments[Consumer]
Friday, February 22, 8:50 AM
The restaurant sector is on watch after a pre-earnings warning from Darden Restaurants (DRI) and a harsh downgrade on Wendy's (WEN) sets a negative tone. The picture being painted for 2013 is starting to get pretty consistent - margin pain and soft traffic trends. Other things to watch in 2013 for the sector: 1) The impact of higher payroll taxes. 2) The coming costs of the Affordable Care Act. 3) The push to raise the minimum wage. 4) Which chains can succeed in China and India?
5 Comments[Consumer]
Thursday, February 21, 5:15 PMCEC Entertainment (CEC): Q4 EPS of -$0.03. Revenue of $177.8M (-0.4% Y/Y) misses by $2.27M. (PR)
Comment![Earnings, Breaking News]
Wednesday, February 13, 10:14 AM
Margin pain on the horizon: Restaurants could get squeezed this year from a combination of higher commodity costs and frugal consumers, according to AlixPartners. Though traffic is forecast to rise 3%, the average ticket is expected to decline 4.7% with coupons, promotions, and discounts gaining favor. Chains that are expected to ride out the expected tough environment are those that can deliver healthy food fast. Chipotle (CMG -1.8%), privately-held Subway, and Panera (PNRA -1.5%) fit the bill.
6 Comments[Consumer]
Wednesday, January 9, 6:50 AM
Hedgeye says current employment trends show a potential deceleration of employment growth in the casual dining restaurant sector as compared to the broader economy. According to the firm, the data suggests a possible slowing of casual dining sales as a result.
5 Comments[Consumer]
Tuesday, December 4, 2012, 9:09 AM
The restaurant sector is on watch after a profit warning from Darden Restaurants points to weakness, not in Europe or China, but at home in the U.S. While increased promotional activity in the sector is behind part of the slip from Darden, the bigger question is why are sales so weak for big players if consumer confidence is supposedly bouncing back?
12 Comments[Consumer, On the Move]
Thursday, November 1, 2012, 7:15 PMCEC Entertainment (CEC): Q3 EPS of $0.45 misses by $0.05. Revenue of $196.6M (-1.7% Y/Y) misses by $3M. (PR)
Comment![Earnings]
Thursday, October 11, 2012, 8:06 AM
Quick service restaurants continue to play catch-up with leaders Chipotle (CMG) and Panera Bread (PNRA) as they try to subtly shift from "fast food" to "fast casual" and steal customers from sit-down alternatives. After McDonald's (MCD) set the bar high with premium coffee, smoothies, and reworked restaurants with HD TVs - nearly every chain has set in motion a modernization plan of its own.
Comment![Consumer]
Tuesday, September 25, 2012, 8:16 AM
The National Restaurant Association says it will join the growing opposition to the proposed $7.2B settlement between retailers and credit card companies. The trade group maintains that the proposed agreement would allow swipe fees to rise unchecked to eventually dwarf the compensation offered. The issue isn't likely to be resolved this year with a New York judge still needing to rule on it.
Comment![Consumer]
Friday, August 31, 2012, 1:26 PM
A performance index tracked by the National Restaurant Association fell to its lowest level in nine months, with a reading of 100.2 for July down 1.1% M/M. Sagging optimism over future business dampened the effect of brisk same-store sales, as only 22% of restaurant operators expect economic conditions to improve in the next six months. The outlook for capital spending in the sector remained relatively stable.
5 Comments[Consumer]
Tuesday, August 14, 2012, 2:40 PM
Restaurant visit growth slumped to a 1% gain over the spring quarter, according to research firm NPD. Though the quick-service restaurant segment registered 2% growth for the period, both the midscale and casual dining segments saw fewer visits over the past year. Diners did spend a bit more per visit, with the average check going up 2%.
5 Comments[Consumer]
Thursday, August 2, 2012, 5:24 PMCEC Entertainment (CEC): Q2 EPS of $0.23 misses by $0.13. Revenue of $182.4M (-2% Y/Y) misses by $1M. (PR)
Comment![Earnings]
Thursday, May 3, 2012, 5:52 PMCEC Entertainment (CEC): Q1 EPS of $1.81 beats by $0.01. Revenue of $247M (-3.7% Y/Y) misses by $7M. (PR)
Comment![Earnings]