MCD (Post-Call) Robust Q4 Results, But SG&A Will Weigh on 2020

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

Earlier today, McDonald’s (MCD; Buy) reported Q4 EPS (excluding an $0.11 worth of income tax benefits due to new regulations) of $1.97, below our $2.00 forecast, but one cent above sell-side consensus (according to Consensus Metrix) of $1.96. Closely-watched U.S. same-store sales rose by +5.1% in Q4, nearly matching our +5.0% projection, and coming in 40 basis points above consensus of +4.7%. Fourthquarter same-store sales for International Operated (+6.2% actual vs. our +5.5% estimate and +5.3% consensus) and International Licensed (+6.6% actual vs. our +6.0% estimate and +6.4% consensus) also came in above expectations.

Q4 2018 Same-Store Sales Ranked for 48 Public Restaurant Chains

By Mark Kalinowski Published on April 3, 2019 at 12:00 AM

With Dave & Buster’s (PLAY; Not Rated) reporting its Q4 2018 results after Tuesday’s market close, we now have same-store sales results publicly reported from all 48 restaurant concepts for calendar Q4 2018 that comprise our Kalinowski Restaurant Industry Index. This report ranks all 48 concepts’ calendar Q4 2018 domestic samestore sales from best to worst.

The BlackBox Index for December 2018 (and Q4 2018) is…

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

Earlier today (Thursday, January 10th), we learned that the BlackBox Index of samestore sales for December 2018 was +2.0%, with same-store traffic down by -0.9%. The December 2018 number was the best month since August 2015.