Monday June 17, 2024, 07:00:00

CMG: Adjusting Our Estimates (6/17/2024)

By Mark Kalinowski

The fast-casual segment of the domestic restaurant industry continues to put up both: (1) the highest same-store sales growth numbers of any major segment of the industry, and (2) the highest net-unit growth rates of any major sector. However, these gains are not nearly equal across all fast-casual concepts – clearly, some are doing much better than others on both of these fronts.

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Wednesday April 24, 2024, 18:03:30

CMG (Post-Call): Ignition Al Pastor

By Mark Kalinowski

After today’s (Wednesday’s) market close, Chipotle Mexican Grill reported its Q1 adjusted EPS reached $13.37, notably above our $11.20 forecast and sell-side consensus (according to Consensus Metrix) of $11.67. The Q1 adjusted tax rate came to 22.1%, more favorable than our 25.5% forecast and consensus of 25.2%. Relative to consensus, the more favorable Q1 adjusted tax rate helped EPS by about +54 cents. This leaves +116 cents of the Q1 EPS beat attributable to other factors.

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Tuesday April 2, 2024, 09:33:51

CMG: Details About Today’s Menu-Price Increases in California

By Mark Kalinowski

Yesterday, we published a note detailing Starbucks’ menu-price increases at 20 of its stores in California. That note is available at:

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