By Mark Kalinowski
Published on November 6, 2018 at 12:00 AM
After today’s market close, Wendy’s (WEN; Neutral) reported adjusted Q3 EPS of $0.17, above our $0.15 forecast and the sell-side consensus (as measured by Consensus Metrix) of $0.15. We attribute the EPS beat to a lower-than-expected adjusted tax rate (15.0% vs. our 24.0% forecast and consensus of 23.7%).
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By Mark Kalinowski
Published on November 4, 2018 at 12:00 AM
With this report, we update our data-driven Kalinowski Quick-Service Burger Index for Q4E from +2.0% to +1.6%. This 40 basis-point decrease is based on our latest proprietary checks/data as regards same-store sales performance for this segment during October. In the last eight months, October 2018 looks to have been the thirdweakest of these eight for the burger segment. We point out that we still have November and December to go as regards Q4 as a whole.
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By Mark Kalinowski
Published on October 29, 2018 at 12:00 AM
We briefly note the following tidbits regarding Wendy’s (WEN; Neutral), KFC (owned by Yum Brands [YUM; Buy]), The Cheesecake Factory (CAKE; Neutral), possible acquisition activity by privately-held Inspire Brands (owned by privately-held Roark Capital), and privately-held Focus Brands (also owned by Roark Capital):
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