Coverage

All Reports:

Restaurant Industry
Mark Kalinowski

Updating our Q1 Kalinowski Casual Dining Same-Store Sales Index (3/18/2024)

With this report, we update our data-driven Kalinowski Casual Dining Index for Q1 to -0.1%. This is the one-year figure, lapping the -13.3% number from Q1 2020, the +9.8% figure from Q1 2021, the +18.9% figure from Q1 2022, and the +8.3% number from Q1 2023. On a five-year (pre-pandemic) basis, the Kalinowski Casual Dining Index for Q1 is at +22.4%. These numbers are based on our latest proprietary checks/data as regards same-store sales performance for this segment during January, February, and early-to-mid March.

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Restaurant Industry
Mark Kalinowski

Updating our Q1 Kalinowski Casual Dining Same-Store Sales Index (3/18/2024)

With this report, we update our data-driven Kalinowski Casual Dining Index for Q1 to -0.1%. This is the one-year figure, lapping the -13.3% number from Q1 2020, the +9.8% figure from Q1 2021, the +18.9% figure from Q1 2022, and the +8.3% number from Q1 2023. On a five-year (pre-pandemic) basis, the Kalinowski Casual Dining Index for Q1 is at +22.4%. These numbers are based on our latest proprietary checks/data as regards same-store sales performance for this segment during January, February, and early-to-mid March.

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Cheesecake Factory (CAKE)
Mark Kalinowski

CAKE: Adjusting Our Estimates (3/18/2024)

This morning, we published an industry report entitled “Updating our Q1 Kalinowski Casual Dining Same-Store Sales Index.” We encourage you to read that report in conjunction with this Cheesecake Factory note.

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Dine Brands Global (DIN)
Mark Kalinowski

DIN: Modifying Our Forecasts (3/18/2024)

This morning, we published an industry report entitled “Updating our Q1 Kalinowski Casual Dining Same-Store Sales Index.” We encourage you to read that report in conjunction with this Dine Brands note.

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Starbucks Corp. (SBUX)
Mark Kalinowski

SBUX: Adjusting Our Forecasts (3/15/2024)

Recently, Starbucks noted that it faced multiple challenges in its fiscal Q1 2024 (calendar Q4 2023). These challenges include: (1) the effect on Starbucks’ sales trends in the Middle East due to some people’s attitudes regarding Israel and its self-defense following it being attached on October 7th, (2) trying to normalize sales trends from Starbucks’ more occasional customer in the U.S. (some of which may reflect some of those customers’ attitudes about Israel), and (3) a generally more cautious consumer environment in China (which has led to greater promotional activity).

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