Tidbits re Burger King (owned by QSR), Applebee’s (owned by DIN), and SBUX

By Mark Kalinowski Published on March 11, 2019 at 12:00 AM

We briefly note the following tidbits regarding Burger King (owned by Restaurant Brands International [QSR; Not Rated]), Applebee’s (owned by Dine Brands [DIN; Buy]), and Starbucks (SBUX; Neutral):

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

By Mark Kalinowski Published on February 26, 2019 at 12:00 AM

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.

WEN (Post-Call) 2019 Craves Some Digital Investments

By Mark Kalinowski Published on February 21, 2019 at 12:00 AM

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%.