Market Overview

Restaurant Same-Store Sales Guidance Is Broadly Lower

Share:
Restaurant Same-Store Sales Guidance Is Broadly Lower
Related BJRI
Baird: The Potential Restaurant Winners From A New Tax Bill
Are Restaurants Safe From The Amazon Effect?
Restaurant sales flat in November (Seeking Alpha)
Related CAKE
Are Restaurants Safe From The Amazon Effect?
Twitter Review Of Cheesecake Factory: 'Ostenatiously Gaudy And Consistently Cheap'
Restaurant sales flat in November (Seeking Alpha)

Brett Levy, a restaurant analyst with Deutsche Bank, commented in a research note on Monday that the sales environment for the group remains "challenging," as evident by a notable number of companies that reported a lower than expected same-store sales growth in the second quarter.

Here is Levy's summary of companies that reported a softer than expected same-store sales and/or poor outlook.

  • Jack in the Box Inc. (NASDAQ: JACK) lowered the top end of its outlook by around 50 basis points.
  • Restaurant Brands International Inc (NYSE: QSR)'s second-quarter same-store sales print was 150-200 basis points below expectations at Burger King US and Tim Horton's Canada.
  • Dunkin Brands Group Inc (NASDAQ: DNKN) reported a weaker-than-expected same store sales for both of its brands but did not adjust its full-year expectations.
  • DineEquity Inc (NYSE: DIN) "meaningfully" lowered its bottom half 2016 same-store sales outlook for both IHOP and Applebee's.
  • Cheesecake Factory Inc (NASDAQ: CAKE)'s reported same-store sales print was within management's target but its third quarter and full-year outlook fell short of consensus estimates and "modestly" lower than prior outlooks.
  • BJ's Restaurants, Inc. (NASDAQ: BJRI)'s reported same-stores sales were "modestly" negative.

Related Link: Deutsche Bank's Q2 Report Cards For 10 Fast-Food/Fast-Casual Stocks

On the other hand, Levy highlighted Domino's Pizza, Inc. (NYSE: DPZ) and Papa John's Int'l, Inc. (NASDAQ: PZZA) as being part of the few restaurants that outperformed in the second quarter given their second-quarter same-store sales, which were ahead of consensus expectations.

Full ratings data available on Benzinga Pro.

Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email feedback@benzinga.com with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!

Latest Ratings for BJRI

DateFirmActionFromTo
Oct 2017Canaccord GenuityMaintainsBuy
Oct 2017BarclaysMaintainsUnderweight
Oct 2017BarclaysMaintainsUnderweight

View More Analyst Ratings for BJRI
View the Latest Analyst Ratings

Posted-In: Brett Levy Deutsche Bank Restaurant stocksAnalyst Color Guidance Restaurants Analyst Ratings General Best of Benzinga

 

Related Articles (BJRI + CAKE)

View Comments and Join the Discussion!

Partner Center