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Posted
Apr 28 2009, 01:56 PM
by
Louis Navellier
Rating:
Money Blog: Top Stocks Blog - MSN Money
Conventional wisdom says that during a recession people will reduce their dining out frequency and opt to eat and entertain at home. Conventional wisdom is often not very prescient. As I said when I revealed my 5 Hot Stocks in Ice-Cold Sectors, there are always opportunities to profit if you know where to look. While stocks of food companies have been depressed for the better part of the last 18 months, stocks of companies engaged in the restaurant business have been among the best market performers during the same period. Companies in the casual dining business, including Buffalo Wild Wings (BWLD), Chipotle Mexican Grill (CMG), BJ’s (BJRI), Panera, (PNRA), Darden (DRI) and California Pizza Kitchen (CPKI) are all trading near the high for the last 12 months and are continuing to report sales and profits growth in spite of the recession
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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
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 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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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
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
May 20 2009, 09:57 AM
by
Kim Peterson
Rating:
Money Blog: Top Stocks Blog - MSN Money
When a recession forces families to cut back, restaurants are often at the top of the list. And the casual-dining sector has taken some hits as a result. So why, then, is P.F. Chang's (PFCB) doing so well, Slate's Daniel Gross wonders. Profits at the company were up 38% from a year ago, even though same-store sales fell. Operating margins hit 14%, up from 12.8% a year ago. And the stock? Click here to see the six-month chart. Investors are certainly smiling these days. So what gives? It's not the food, Gross writes. P.F. Chang's is about as authentic as Taco Bell.
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Posted
Mar 18 2009, 11:12 AM
by
Anthony Mirhaydari
Rating:
Money Blog: Top Stocks Blog - MSN Money
In a sign the recession is may be nearing its end, restaurant stocks are enjoying improved business and boosted stock prices as consumers slowly begin to reopen their wallets. This is a surprising reversal from the bankruptcies and traffic declines we saw last year.
According to research by UBS analyst David Palmer, sales started stabilizing at casual restaurants back in January and improved into February. Following months of cut backs and meals at home, pent-up demand was released thanks to better weather and heavy discounting. After all, what fun is it to deny oneself an occasional luxury?
As a result, Darden Restaurants (DRI), which runs the popular Olive Garden and Red Lobster chains, reported better-than-expected quarterly results Wednesday and issued positive guidance for the rest of the year. Thanks to cost-cutting efforts and higher ad spending, the company expects earnings per share of $2.66 to $2.74 for the year, ahead of the $2.52 consensus estimate. Shares are up more than 35% year-to-date versus a 15% fall in the S&P 500.
Here are two other stocks you should know about:
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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 29 2008, 05:04 PM
by
Anthony Mirhaydari
Rating:
Money Blog: Top Stocks Blog - MSN Money
Confirming a trend we discussed last week, the corporate parent of Bennigan's and Steak & Ale restaurants filed for Chapter 7 bankruptcy protection as consumers continue to shy away from dining establishments in favor of home-cooked meals.
The closures affect only 0.5% of the U.S. bar-and-grill sector -- but they're a warning of tough times ahead for the $43 billion casual dining industry.
The rapid plunge into oblivion shocked patron Donna Wimes, who noted that "the food was good; they always seemed to generate a crowd." Others are reminiscing about Bennigan's deep-fried mozzarella sticks, while also noting that locations "looked full" anytime they passed by
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