Friday March 1, 2019, 00:00:00
Tidbits re MCD and Taco Bell (owned by YUM)
We briefly note the following tidbits regarding McDonald’s (MCD; Buy) and Taco Bell (owned by Yum Brands [YUM; Buy]):
Tuesday February 26, 2019, 00:00:00
Introducing our Q1E Kalinowski Quick-Service Burger Same-Store Sales Index
With this report, we introduce our data-driven Kalinowski Quick-Service Burger Index for Q1E of +2.5%. This figure is based on our latest proprietary checks/data as regards same-store sales performance for this segment during January 2019 and the first half of February 2019.
Monday February 25, 2019, 00:00:00
MCD Updating our Forecasts 2.19
Based on our checks related to January and the first half of February, we tweak upward our U.S. same-store sales forecast for Q1E by +30 basis points, to +3.3%. This places us 40 basis points above sell-side consensus (according to Consensus Metrix) of +2.9%. We are encouraged by what we hear about Q1 so far, particularly given that weather has been a challenge at some points over January/February. McDonald’s initiatives — including fresh-beef quarter-pound beef patties (amongst other menu improvements) and the recent Big Mac Bacon, Quarter Pounder Bacon, and Cheesy Bacon Fries promotion — appear to be resonating well with guests. We do caution that the quarter is not over yet, and in particular we still have March to go, so of course our updated +3.3% forecast for Q1E U.S. same-store sales remain subject to change depending on our checks related to the back half of the quarter.