RESTAURANT AND RETAIL EARNINGS TO COME, WITH IMPORTANT ECONOMIC INDICATORS

It will be a quiet week for restaurant earnings but there will be a lot of news from very important mass retailers, as well as general economic indicators.

An important broad update will be provided on Tuesday morning, the 16th, when the total value of US retail sales will be announced. They are expected to have risen 1.1% in October from September which was up 0.7% from August.

Many more micro data points will be released on Tuesday and Wednesday, from Walmart, Home Depot, Target, Lowe’s and TJX, who will report their most recent quarter which ended on 10/31. They will no doubt be questioned about sequential sales through the period as well as trends to date in November.. Management will likely take a cautious stance relative to the holiday season, considering the uncertain Delta Variant trends and supply chain disruptions.

On Thursday of this week Portillo’s will report. Cracker Barrel and Jack in the Box will report next week.

Roger Lipton