Thursday April 4, 2019, 00:00:00
With this report, we update our data-driven Kalinowski Family Dining Index for Q1E to +2.2% (down from +2.8% previously). Our updated figure is based on our latest proprietary checks/data as regards same-store sales performance for this segment during the second half of February 2019 and all of March 2019.
Wednesday April 3, 2019, 00:00:00
We initiate coverage of Denny’s (DENN) with a Neutral rating. At present, we do not view the multiple opportunities and positives of the company (and its stock) as enough to overcome the concerns and risks that we have. Amongst those risks are: (1) the possibility that sell-side consensus EPS for 2019 is too high as of this writing, (2) a likely lack of possible upside to current Street expectations as regards U.S. same-store sales, and (3) some fast-expanding family-dining chain competition. As with each of our Neutral-rated stocks, our target price for DENN is NA (not applicable). We note the following:
NEW YORK CITY NON-DEAL ROADSHOW PLANNED FOR THURSDAY, JUNE 20TH
Thursday February 28, 2019, 00:00:00
With this report, we introduce our data-driven Kalinowski Family Dining Index for Q1E at +2.8%. This figure is based on our latest proprietary checks/data as regards samestore sales performance for this segment during January 2019 and the first half of February 2019.
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