Updating our Q4E Kalinowski Quick-Service Other Same-Store Sales Index

By Mark Kalinowski Published on January 21, 2021 at 12:00 AM

With this report, we update our data-driven Kalinowski Quick-Service Other Index for Q4E to +2.3%. This figure is based on our latest proprietary checks/data as regards same-store sales performance for this segment during October, November, and December. We believe that October same-store sales were likely the best month of the quarter, while November was likely the worst month of the quarter. (As a reminder, we define “quick-service other” as all quick-service, excluding burger, pizza, and sandwich concepts.)

YUM (Post-Call) G&A Expenses Could Weigh on Q4 EPS

By Mark Kalinowski Published on October 29, 2020 at 12:00 AM

Earlier today, Yum Brands reported adjusted Q3 EPS of $1.01, ahead of our $0.83 forecast and sell-side consensus (according to Consensus Metrix) of $0.81. Third-quarter company-owned restaurant margins came to 17.9%, better than our 17.3% estimate and consensus of 16.1%. Taco Bell in particular generated very good restaurant-level margins (27.5% in Q3), although on today’s conference call management commented that over time margins should become more normalized as larger orders may become less of the overall sales mix.

Updating our Q3E Kalinowski Quick-Service Other Same-Store Sales Index

By Mark Kalinowski Published on October 13, 2020 at 12:00 AM

With this report, we update our data-driven Kalinowski Quick-Service Other Index for Q3E to +4.3%. As a reminder, we define “quick-service other” as all quick-service concepts excluding the pizza, burger, and sandwich categories.