By Mark Kalinowski
Published on January 23, 2019 at 12:00 AM
Based on our data-driven checks, we upgrade the shares of Dunkin’ Brands Group (DNKN) from Neutral to Buy. Our checks regarding the fourth quarter lead us to raise our Q4E same-store sales forecast for the core Dunkin’ U.S. business by 60 basis points, to +2.1%, which according to Consensus Metrix data becomes the new sellside high. Sell-side consensus is at +1.4% as of this writing.
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By Mark Kalinowski
Published on January 9, 2019 at 12:00 AM
Following our checks for McDonald’s (MCD; Buy) Foundational business segment for Q4E, we retain our +6.0% same-store sales projection, modestly above sellside consensus. Although McDonald’s Japan — the largest part of the Foundational segment — likely had its worst month of 2018 in terms of same-store sales in October 2018, we believe a robust December 2018 helped McDonald’s Japan post a midsingle digit comp for Q4 2018 that was very similar to its Q3 2018 comp (a touch better in Q4 than in Q3). While October’s same-store sales for McDonald’s Japan were likely up in low-single-digit territory, November was better (mid-single digits), and December appears to have reached high-single digits.
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By Mark Kalinowski
Published on November 1, 2018 at 12:00 AM
After Thursday’s market close, Starbucks (SBUX; Neutral) reported adjusted fiscal Q4 EPS of $0.62, ahead of our $0.59 forecast and sell-side consensus (as measured by Consensus Metrix) of $0.60.
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