MOST RECENT CONFERENCE CALL TRANSCRIPT
MOST RECENT CONFERENCE CALL TRANSCRIPT
UPDATED CORPORATE DESCRIPTIONS: KRISPHY KREME (DNUT), NOODLE’S (NDLS), BRINKER INT’L (EAT), BT BRANDS (BTBD) – with relevant transcripts
UPDATED CORPORATE DESCRIPTIONS FOR: BLOOMIN’ BRANDS, KRISPY KREME, TEXAS ROADHOUSE, CRACKER BARREL, ARK RESTAURANTS AND NOODLES – with conference call transcripts
BLOOMIN’ BRANDS (BLMN)
KRISPY KREME (DNUT)
TEXAS ROADHOUSE (TXRH)
CRACKER BARREL (CBRL)
ARK RESTAURANTS (ARKR)
THE SEARCH FOR VALUE CAN START WITH OUR “CORPORATE DESCRIPTIONS” – SIX FRESH WRITEUPS HERE: NOODLES, DARDEN, ARK, GOOD TIMES, RCI HOSPITALITY, FLANIGAN’S – this website contains similar writeups on every publicly held restaurant company.
Jack in the Box added to Jefferies Conference – 1:30PM today, link below
Ark Restaurants (ARKR)
Good Times Restaurants (GTIM)
RCI Hospitality (RICK)
Jack in the Box Presentation at Jefferies Conference: 1:30pm EST – link below
SEVEN RESTAURANT COMPANIES PRESENT TODAY & TOMORROW AT JEFFERIES (VIRTUAL) WINTER CONFERENCE
The following companies present at the indicated times. We have provided the links to the investor relations section of their website.
Portillo’s (PTLO) – Monday, 1/24, 11:30 EST
Noodles (NDLS) – Monday, 1/24 – 3:00 EST
First Watch (FWRG) – Tuesday, 1/25, 9:00 EST
Chuy’s Holdings (CHUY) – Tuesday, 1/25, 10:30 EST
Dave and Buster’s (PLAY) – Tuesday, 1/25, 11:00 EST
Dutch Bros – Tuesday, 1/25 – 12:00 EST
The One Group (STKS) – Tuesday, 1/25, 12:00 EST
ICR CONFERENCE APPEARANCES STIMULATE PUBLIC UPDATES, AND INTRA-DAY VOLATILITY IN A SKITTISH STOCK MARKET
Publicly held restaurant, franchising and retailing companies appear today, again tomorrow and Wednesday morning at ICR’s “must attend” conference, usually in Orlando but held virtually again this year.
Announcements have often preceded the public appearances and the news has sometimes been unsettling, stock prices reacted accordingly. We provide below links to the news releases that have triggered the largest price changes.
BURGERFI (BFI – consolidating after acquiring Anthony’s Coal Fired Pizza – up 0.35%)
DUTCH BROS INC. (BROS – got hit early, closed up 2.88%)
CARROL’S RESTAURANT GROUP ((TAST – already at a multi-year low – up 0.34%)
NOODLES (NDLS – announces major multi-unit franchise agreement – up 6.33%)
FIRST WATCH RESTAURANTS, Inc. (FWRG – finding its footing after IPO – up 2.33%)
RCI Hospitality (RICK – presentation fine, just profit taking after recent run – down 3.58%)
ICR CONFERENCE – report from last week’s widely attended three day restaurants/retail event in Orlando
There is lots more detail to follow in the next week or so, but it is safe to say that it is still tough out there in restaurant/retail land. Labor costs continue to be a huge issue, food delivery is a major subject and already in a shakeout phase, traffic is flat to down (mostly down) at almost all restaurant chains, especially “dine-in”. Since costs are rising and pricing power is limited, there is no margin relief to come at restaurant chains, unless they are recovering from depressed results, which is in fact the case in a few situations. We will be doing updates on many of the publicly held chains that will provide more details.
On the plus side, it is always interesting to hear from the chains that present on “privately held day”. While many of the publicly held chains are “mature” and coping with the inevitable pressures of maintaining their original “cultures”, it is always exciting to hear about the success at younger companies, still run by their energetic founders. That’s not to say that all the public companies have lost that youthful enthusiasm, but the job has inevitably become more complex and multi-dimensional.
As far as our coverage is concerned:
Among publicly held companies, we expect to do NEW writeups on Noodles, One Hospitality, and Denny’s.
We will do UPDATED writeups on Kura Sushi, Ruth’s Chris, Chuy’s, Del Taco, Red Robin, Pollo Loco, Dave & Buster’s, and Shake Shack.
The section on our website devoted to “Up & Comers” is largely an outgrowth of exposure at ICR and those articles get more readership because we all hear from the public participants every ninety days.
Our previous writeups on &Pizza, Barcelona Wine Bar (which is part of Barteca, now owned by Del Frisco’s), Fitlife Foods, and Fogo de Chao (which was public a couple of years ago) can now be updated.
Private companies we learned more about, in alphabetical order, include: Benihana (used to be public), Black Bear Diner, Bolay, Fogo de Chao (used to be public), Just Salad, Punch Bowl Social (now owned by Cracker Barrel), TGI Friday’s, and we hope to provide writeups on these companies in the near future.