By Mark Kalinowski
Published on May 6, 2019 at 12:00 AM
In our April 8th report “Tidbits re: Burger-Sector Same-Store Sales Trends, and SBUX,” we noted that “With March 2019 now in the rear-view mirror, we are pleasantly surprised that this month appears to have turned out very well for burger-sector same-store sales. In fact, based on our proprietary, data-driven checks, the midsingle digit number put up by U.S. quick-service burger chains for March 2019 looks like the best month in this regard since February 2016, for which some concepts (depending on their accounting methodologies) were helped by that month’s extra Leap Day.”
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By Mark Kalinowski
Published on April 30, 2019 at 12:00 AM
Earlier today, McDonald’s (MCD; Buy) reported its Q1 EPS of $1.72, above our $1.71 forecast, but below the sell-side consensus of $1.75. But the real story is that U.S. same-store sales rose by an unexpectedly robust +4.5%, easily surpassing our above-consensus +3.2% projection. McDonald’s attributes the strong showing to “successful promotions, including the Bacon Event, the 2 for $5 Mix and Match deal, and Donut Sticks, as well as a net positive impact from our Experience of the Future deployment.” On this latter front, management noted on today’s conference call that this is the first time ever that it can make this statement. We look for this effect to continue in coming quarters.
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By Mark Kalinowski
Published on April 15, 2019 at 12:00 AM
We briefly note the following tidbits regarding privately-held Chick-fil-A, quick-service chicken sector market-share trends in the U.S., and Papa John’s (PZZA; Buy):
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