By Ryan D. Lavender
Published on April 12, 2021 at 4:44 PM
Ahead of Starbucks’ fiscal Q2 earnings release planned for after the market close on Tuesday, April 27th, we raise our fiscal Q2E U.S. same-store sales forecast by +1 percentage point, to +9%. According to Consensus Metrix data, this places us as the “high forecast on the sell-side” in this regard. As of this writing, sell-side consensus for fiscal Q2E U.S. same-store sales is at +6.7%, although remember that Starbucks does not report its same-store sales out past the decimal point.
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By Ryan D. Lavender
Published on April 5, 2021 at 4:54 PM
With this report, we increase our Q1E U.S. same-store sales forecast for Wendy’s by +150 basis points, to +11.5%. According to Consensus Metrix data, this becomes the new “high on the sell-side forecast.” Sell-side consensus is presently at +10.0%.
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By Ryan D. Lavender
Published on March 29, 2021 at 4:12 PM
With this report, we increase our Q1E North American same-store sales forecast for Papa John’s by +130 basis points, to +13.5%. As of this writing, sell-side consensus (according to Consensus Metrix) is at +12.9%. Our increased forecast represents factors including: (1) quick-service delivery specialists still seem to be more appreciated by consumers in general, (2) stimulus-related consumer spending in January and in March, and (3) the return of the March Madness college basketball tournament — generating TV ratings on par with 2019 levels, unlike many other major sports games/events — seems to be driving demand for pizza delivery.
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