Large Restaurant Concepts Closing a Lot Less Units than Independent

By Mark Kalinowski Published on November 23, 2020 at 12:00 AM

Looking at unit closures announced and planned by large restaurant chains, and comparing these to unit closures from mom-and-pops/independents, goes to show just how large a market-share shift is going on in the U.S. restaurant industry. We look for most, if not all, of this market-share shift in favor of large concepts to persist in the years after 2020.

PZZA An “Epic” Update to our Same-Store Sales and EPS Estimates

By Mark Kalinowski Published on November 19, 2020 at 12:00 AM

We look for Papa John’s to launch Epic Stuffed Crust Pizzas nationwide in the U.S. shortly, with December 28, 2020 (the first day of Papa John’s fiscal 2021) one possible official launch date. This would not only be ahead of Super Bowl Sunday (scheduled for February 7, 2021), but also ahead of New Year’s Eve. In any case, it looks like a Q1 2021 launch date is likely, and sooner during that quarter rather than later.

WEN Conf. Call Showcases a Nimble Wendy’s in a Rapidly-Changing Environment

By Mark Kalinowski Published on November 18, 2020 at 12:00 AM

Earlier this week, Kalinowski Equity Research hosted its latest “Ask the Experts” conference call — this time around, featuring Wendy’s. The call included multiple participants from Wendy’s, including CFO Gunther Plosch and Greg Lemenchick, Senior Director – Investor Relations and Corporate FP&A. We thank them for their time!