By Mark Kalinowski
Published on August 29, 2019 at 12:00 AM
Given weaker-than-expected same-store sales trends in the family-dining and casualdining sector quarter-to-date, we lower our Q3E same-store sales forecasts for IHOP and Applebee’s (both owned by Dine Brands [DIN; Neutral]). For IHOP, our Q3E samestore sales estimate is reduced by -140 basis points, to +0.8%, which becomes the new “low on the sell-side” forecast, according to Consensus Metrix data. For Applebee’s, we take down our Q3E projection by -150 basis points, to -1.5%, as compared to current sell-side consensus of -1.2%.
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By Mark Kalinowski
Published on August 6, 2019 at 12:00 AM
In our June 17th report “DPZ: 2019 Franchise Disclosure Document Review for Domino’s,” (see also our June 18th “DPZ: Clarification re: 2019 Franchise Disclosure Document Review for Domino’s”) we included tables showing average weekly unit sales and median weekly unit sales for franchised, company-owned, and combined Domino’s U.S. stores for 2013-17 because — as of June 17th — data in this respect for 2018 was not yet part of the Franchisee Disclosure Document (FDD). However, Domino’s recently updated its 2019 FDD, and now includes this information for 2018. As such, here is that information for 2014-18:
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By Mark Kalinowski
Published on August 1, 2019 at 12:00 AM
Earlier today, Dunkin’ Brands Group (DNKN; Neutral) reported Q2 adjusted EPS of $0.86, surpassing our $0.82 forecast and sell-side consensus (according to Consensus Metrix) of $0.82. Dunkin’ notes that about two cents of the EPS beat is due to “recognized excess tax benefits.”
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