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Casual Dining - no wait for a table in 2010?

|Includes: BJRI, BWLD, CAKE, CMG, OpenTable, Inc. (OPEN)

Casual dining companies reported link to story a mediocre outlook for 2010.  

If casual dining companies are forecasting a soft 2010 it's very difficult to be optimistic about a meaningful change in the sky-high U-6 unemployment rate of 17% or the recently reported 20% rate for men ages 25 -54.

And there are other fundamental reasons for caution in the casual dining industry. The number of people on a fixed income is growing rapidly as those 62 or older and unemployed are opting to take social security.  See story.   

Cheesecake Factory (CAKE) not mentioned in the story linked above also disappointed.

Maybe OpenTable (OPEN) which rocketed up 25% this week can find a way to fill those open tables in casual dining stores.


Disclosure: disclosure: no position in any restaurant stocks