PREVIOUSLY REPORTING (below):  Starbucks re-evaluated (seems like their Chinese exposure has attracted some attention:), One Upgrade, One Downgrade, both to Hold — separately: Portillo’s Downgraded to Hold by 1 firm.

Otherwise:

Starbucks maintained at Hold by 1 firm.

Yum Brands maintained positively at 2 firms.

Shake Shack maintained: Neutral at 1 firm, Outperform at 1 firm.

Maintained Neutral at 1 firm were: Wendy’s, Restaurant Brands, McDonald’s,  Jack in the Box, Darden, Cheesecake Factory, Brinker.

Maintained Positively  at 1 firm were: RCI Hospitality, European Wax Center, Wingstop, Texas Roadhouse, Chipotle, Dutch Bros.

COMPANIES REPORTING DURING WEEK (below):  Kura Sushi, Dave & Buster’s

Kura Sushi maintained: Neutral at 3 firms, Buy at 1 firm.

Dave & Buster’s maintained: Neutral at 1 firm, Positively at 2 firms.

Conference call transcripts are below for all companies reporting in prior weeks with ratings changes (Starbucks, Portillo’s), Initiations (none), or companies reporting in THE WEEK THAT WAS: (Dave & Buster’s, Kura Sushi USA).

TRANSCRIPTS OF CONFERENCE CALLS AND PRESENTATIONS

Starbucks (SBUX)

Starbucks Corporation (SBUX) Q1 2025 Earnings Call Transcript _ Seeking Alpha

Portillo’s (PTLO)

Portillo’s Inc. (PTLO) Q4 2024 Earnings Conference Call Transcript _ Seeking Alpha

Portillo’s Inc. 2024 Q4 – Results – Earnings Call Presentation (NASDAQ _ PTLO) _ Seeking Alpha

Dave & Buster’s Entertainment (PLAY)

Dave & Buster’s Entertainment, Inc. (PLAY) Q4 2024 Earnings Call Transcript _ Seeking Alpha

Kura Sushi USA (KRUS)

Kura Sushi USA, Inc. (KRUS) Q2 2025 Earnings Call Transcript _ Seeking Alpha

THE WEEK TO COME: NOBODY SCHEDULED TO REPORT