By Mark Kalinowski
Published on June 10, 2020 at 12:00 AM
Earlier today, Starbucks (SBUX; Buy, $82.37) provided a business update as part of an 8-K filing. Given the information in that 8-K, we lower our fiscal Q3E (calendar Q2E) EPS estimate by -53 cents to -$0.63, and we reduce our fiscal Q4E (calendar Q3E) EPS forecast by -12 cents to $0.27. These updates lower our full-fiscal 2020E EPS projection by -65 cents, to $0.75. In addition, given this lower anticipated base of earnings coming off of fiscal 2020E, we take down our fiscal 2021E EPS estimate by -50 cents to $2.25.
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By Mark Kalinowski
Published on May 27, 2020 at 12:00 AM
After yesterday’s (Tuesday’s) market close, Domino’s (DPZ; Buy, $360.16) provided a business update. Following our May 12th report in which we raised our Q2E samestore sales forecast to a sell-side high of +8.6% (it is still the high sell-side forecast as of 4 PM Eastern time yesterday, according to Consensus Metrix), Domino’s comments that its April 20-May 17 U.S. same-store sales rose by +20.9%, placing Q2-to-date (through May 17th) at +14.0%.
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By Mark Kalinowski
Published on March 31, 2020 at 12:00 AM
We adjust our U.S. blended (company-owned and franchised combined) same-store sales estimates for Domino’s (DPZ; Neutral) as follows:
Q1E 2020: down by -190 basis points to an actual of +1.6%
Q2E 2020: down by -240 basis points to +0.6%
Q3E 2020: down by -190 basis points to +2.1%
Q4E 2020: stays at +3.5%
Full-year 2020E: down by -170 basis points to +2.0%
Full-year 2021E: up by +50 basis points to +3.5%
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