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Posted
Sep 15 2009, 11:42 AM
by
InvestorPlace
Rating:
Money Blog: Top Stocks Blog - MSN Money
This article was written by InvestorPlace's Jim Woods.
Eat less, make more money. Well, that’s not exactly what happened to Cracker Barrel Old Country Store (CBRL) in its fiscal fourth quarter, but it’s not entirely off the mark either. Today the homey restaurant/retailer’s profit jumped an impressive 9% in the quarter, not an easy feat in the midst of a consumer spending contraction. Bing: More on Restaurant Stocks
The company earned $22.8 million, or 99 cents per share, for the period ended July 31. That’s up nicely from $21 million, or 93 cents per share, a year ago. That 99 cents per share easily topped consensus forecasts for a profit of 95 cents per share.
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Posted
Sep 11 2009, 05:40 PM
by
James Dlugosch
Rating:
Money Blog: Top Stocks Blog - MSN Money
The operator of New York’s famous Tavern on the Green announced yesterday that it was filing for bankrutpcy, a few months before the storied restaurant changes hands.
Citing losses due to the recession, the company said the city’s decision not to renew the lease on the current location was the final nail in the coffin for the current operator.
The chapter 11 filing will allow the company to shed debts and start fresh with a clean slate. As for the restaurant, the plan is to stay open until December, followed by extensive renovations by the new operator.
The restaurant business is a tough one, and not even history and nostalgia could save the Tavern on the Green. The broader lesson here is this: Despite the headlines of an economic recovery and the possible start of a new bull market, there are still storm clouds on the horizon
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Posted
Aug 13 2009, 12:11 PM
by
Louis Navellier
Rating:
Money Blog: Top Stocks Blog - MSN Money
Gravity does not pull all things to earth. When markets rise over an extended period, it is not necessarily true that they will eventually fall. Yet here we are several months and significantly higher than lows hit in March, and every so-called expert is predicting that we are way long overdue for a pullback.
I don't agree. Bing: More on Restaurant Stocks
It is way too simplistic to suggest that stocks will drop because they have gone up too far too fast. In fact, it has been my experience that once stocks exhibit positive momentum, such momentum is likely to continue much longer than anyone expects
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Posted
Aug 06 2009, 05:56 PM
by
Anthony Mirhaydari
Rating:
Money Blog: Top Stocks Blog - MSN Money
Restaurant stocks were pushed down on Thursday after the government reported a record 34 million Americans are now receiving food stamps. Enrollment was up 2% in May, bringing to total to roughly one in nine. This was the sixth consecutive month to set a new record and yet another sign of just how desperate the situation has become for so many families.
DineEquity (DIN), which operates the Applebee's and IHOP brand names, fell 8.3%. Ruby Tuesday (RT) dropped 6.6%. The Cheesecake Factory (CAKE) is off 5.9%.
The sector was hit hard early in the recession as it became clear consumers were eating at home more to cut costs. Since equities bottomed in March, restaurant stocks have blasted higher on the hopes households would quickly resume their bon vivant lifestyle. They haven't. Or more precisely, they can't afford it anymore. As a result, restaurant sales have dropped 2.6% in the three months to May -- the biggest decline since 1981 according to NPD Group.
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Posted
Jul 22 2009, 08:16 AM
by
Louis Navellier
Rating:
Money Blog: Top Stocks Blog - MSN Money
It is well known that running a restaurant is a tough row to hoe, but that is even more so on the fine dining side of the market during this economic crisis.
During the last bull market, there was a trend to go large in the fine dining space. Upscale restaurants that worked in one location were quickly duplicated in other cities. Once large enough, many of these chains became publicly traded companies.
Now in the midst of a deep recession, the upscale space is experiencing a huge unwind. In one middle-market city I visit periodically, there have been several upscale restaurants that have closed over the last month alone.
Those with ties to public companies are seeing their stocks devalue accordingly. For example, I rate upscale steakhouse Morton's (MRT) a D, or sell.
It has been a train wreck of sorts. Within that carnage, though, there is a category of restaurants that is actually doing very well in this environment: The casual dining space. Indeed, high-end diners are trading down in order to continue dining out.
Here are three casual dining restaurant stocks that are right in the sweet spot of this recessionary economy
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Posted
Jul 07 2009, 12:25 PM
by
Catherine Holahan
Rating:
Money Blog: Top Stocks Blog - MSN Money
 Layoffs may be slowing, but hiring isn't picking up. The hiring rate stood at just 3% in May, according to data released today by the U.S. Labor Department. That rate is the lowest the government has ever recorded since it began tracking new hires nine years ago.
More than one person leaves their job for every person hired. The number of new hires in May stood at 3.98 million. Meanwhile the number of "separations"-- which includes employees who were laid off, fired, quit, or saw their contracts expire without renewal -- was 4.36 million.
There aren't nearly enough open jobs out there to re-employ the record numbers of jobless workers. In May, job openings declined 36% from the prior year to 2.6 million. To put the number of open positions in some perspective, there are currently more than 14.7 million people out of work in the country. That number rises to 25.5 million if you count all the underemployed people who are working part-time jobs due to lack of full-time employment, or who have given up seeking work. (See "True unemployment rate already at 20%.")
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Posted
Jul 02 2009, 06:08 AM
by
Minyanville
Rating:
Money Blog: Top Stocks Blog - MSN Money
 At a time when consumer confidence remains weak, can fast food remain profitable?
Things were starting to look sunny, but then U.S. consumer confidence fell in June, snapping a two-month rally of gains. The Consumer Attitudes Index weighed in at 49.3 -- a decline from the 54.8 it was at in May. Additionally, the Present Situation Index slid to 24.8 from 29.7.
These declines were caused by a weak job market -- note continued layoffs in the private sector -- a less favorable assessment of business conditions, and a weak real estate sector. In addition, higher interest rates are deterring homeowners from refinancing mortgage -- which means no extra cash to spend. Lastly, studies have indicated that US consumers, still anxious about the economy, are saving more and spending less.
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Posted
Jun 24 2009, 05:55 AM
by
Louis Navellier
Rating:
Money Blog: Top Stocks Blog - MSN Money
The great 20th-century writer Franz Kafka once famously quipped that, “so long as you have food in your mouth, you have solved all questions for the time being.”
Ah, if only life were that simple. Unfortunately, the pedestrian act of putting food in our mouths won’t help us identify the best stocks for our portfolio -- or will it?
Yesterday we got news that Darden Restaurants (DRI) easily beat consensus Street estimates, announcing adjusted net earnings from continuing operations of 90 cents per share for the fourth quarter. The Street was expecting earnings to come in at 86 cents per share. The company also declared a quarterly dividend of 25 cents per share, a 25% increase from the previous quarterly dividend.
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Posted
Jun 19 2009, 09:19 AM
by
Catherine Holahan
Rating:
Money Blog: Top Stocks Blog - MSN Money
 Updated 8:20 p.m. ET
Blame recession cuts. Pizza Hut is slicing the "pizza" from its store name on its boxes and some store signs. The fast food chain will now brand some stores as "The Hut."
However, contrary to earlier reports, the iconic chain won't be changing its name, a Pizza Hut spokesman said Friday. The boxes and some store signs will say "The Hut." Others will retain the Pizza Hut name.
Pizza Hut has recently expanded its menu beyond pizza to include pasta, giving it some reason to alter its branding. Media and advertising trade publication MediaWeek characterized the name change as an attempt to transform its stores into hip hangouts. There are more than 10,000 Pizza Huts worldwide.
The new "Hut" stores will be more than simply places to place a delivery order, according to MediaWeek. They will include televisions that broadcast programs such as "Wheel of Fortune" and "Entertainment Tonight."
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Posted
Jun 03 2009, 08:41 PM
by
Louis Navellier
Rating:
Money Blog: Top Stocks Blog - MSN Money
The current recession has touched all sectors. The rules of the game have been changed and nobody is safe. The paradigm is shifting.
One of the consequences of the current state is a newfound appreciation for savings in the United States. A consumer that does not spend is bad news for the retail sector and it is bad news for an economy dependent on consumer spending.
The one glimmer of hope comes from the restaurant space. When it became clear that this recession would be long and deep, consumers clamped wallets shut. Dining out in this environment was an easy luxury to cut
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