Tuesday March 5, 2019, 00:00:00

Tidbits re WEN, Taco Bell (owned by YUM), and Chick-Fil-a

By Mark Kalinowski

We briefly note the following tidbits regarding Wendy’s (WEN; Neutral), Taco Bell (owned by Yum Brands [YUM; Buy]), and privately-held Chick-fil-A:

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Tuesday February 26, 2019, 00:00:00

Introducing our Q1E Kalinowski Quick-Service Burger Same-Store Sales Index

By Mark Kalinowski

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.

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Thursday February 21, 2019, 00:00:00

WEN (Post-Call) 2019 Craves Some Digital Investments

By Mark Kalinowski

Earlier today, Wendy’s (WEN; Neutral) reported Q4 2018 adjusted EPS of $0.16, one cent above our $0.15 forecast and the sell-side consensus (according to Consensus Metrix) of $0.15. Fourth-quarter adjusted EBITDA of $107.8 million was a little short of our $110.1 million projection and consensus of $108.4 million. Company-operated restaurant margins of 16.0% were short of our 17.5% forecast and consensus of 17.4%.

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