By Mark Kalinowski
Published on August 18, 2020 at 12:00 AM
With this report, we introduce our quarterly EPS estimates for Starbucks’ (SBUX; Buy, $78.95) fiscal 2021E. Also, our full-fiscal 2021E EPS estimate also goes up by +5 cents, to $2.55, reflecting the 53rd fiscal week in fiscal 2021E. Starbucks’ fiscal year ends on the Sunday closest to September 30th. In 2020 this means September 27th; in 2021 this means October 3rd.
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By Mark Kalinowski
Published on June 10, 2020 at 12:00 AM
Earlier today, Starbucks (SBUX; Buy, $82.37) provided a business update as part of an 8-K filing. Given the information in that 8-K, we lower our fiscal Q3E (calendar Q2E) EPS estimate by -53 cents to -$0.63, and we reduce our fiscal Q4E (calendar Q3E) EPS forecast by -12 cents to $0.27. These updates lower our full-fiscal 2020E EPS projection by -65 cents, to $0.75. In addition, given this lower anticipated base of earnings coming off of fiscal 2020E, we take down our fiscal 2021E EPS estimate by -50 cents to $2.25.
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By Mark Kalinowski
Published on April 7, 2020 at 12:00 AM
We lower our U.S. systemwide same-store sales estimates for Denny’s (DENN; Buy) as follows:
Q1E 2020: down by -10.0 percentage points to -8.0%
Q2E 2020: down by -61.0 percentage points to -60.0%
Q3E 2020: down by -31.5 percentage points to -30.0%
Q4E 2020: down by -11.5 percentage points to -10.0%
Full-year 2020E: down by -28.5 percentage points to -27.5%
Full-year 2021E: up by +11.0 percentage points to +12.5%
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