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

By Mark Kalinowski Published on March 14, 2019 at 12:00 AM

With this report, we introduce our data-driven Kalinowski Quick-Service Pizza Index for Q1E at -0.1%. This figure is based on our latest proprietary checks/data as regards same-store sales performance for this segment during January 2019 and most of February 2019.

Tidbits re DPZ, DNKN, and MCD

By Mark Kalinowski Published on March 10, 2019 at 12:00 AM

We briefly note the following tidbits regarding Domino’s (DPZ; Buy), Dunkin’ (owned by Dunkin’ Brands Group [DNKN; Neutral]), and McDonald’s (MCD; Buy):

DPZ (Post-Call) Is +3% to +6% U.S. Same-Store Sales (Finally) the New Normal

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

Earlier today, Domino’s (DPZ; Buy) reported Q4 2018 EPS of $2.62, short of our $2.71 projection and sell-side consensus (according to Consensus Metrix) of $2.69. The tax rate in Q4 2018 was 17.0%, versus our 20.8% estimate and consensus of 20.8%. By our math, Q4 EPS would have been closer to $2.50 if the Q4 tax rate had been closer to our forecast/consensus. Restaurant-level margins at company-owned units were 23.1%, versus our 24.0% estimate. G&A/Revenues was 11.2% actual vs. our 10.8% projection.