Thursday December 3, 2020, 00:00:00
Given deceleration in same-store sales trends for the U.S. family dining sector, we reduce our Q4E Denny’s U.S. same-store sales projection by -600 basis points, to -28.0%. According to Consensus Metrix data, this places us as the low estimate on the sell-side in this regard. As of this writing, sell-side consensus is at -22.2%.
Monday November 23, 2020, 00:00:00
Looking at unit closures announced and planned by large restaurant chains, and comparing these to unit closures from mom-and-pops/independents, goes to show just how large a market-share shift is going on in the U.S. restaurant industry. We look for most, if not all, of this market-share shift in favor of large concepts to persist in the years after 2020.
Wednesday November 11, 2020, 00:00:00
Yesterday, Kalinowski Equity Research hosted its latest “Ask the Experts” conference call — this time around, featuring Denny’s. The call included multiple participants from Denny’s: (1) President Mark Wolfinger, (2) Senior Vice President and Chief Financial Officer Robert Verostek, (3) Vice President Investor Relations and Financial Planning & Analysis Curt Nichols, and (4) Director Investor Relations and Financial Planning & Analysis Kayla Money. We thank them for their time!
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