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CHAIN NEWS – Performance |
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Brinker International Reports Year Over Year Increase in First Quarter Fiscal 2011 EPS
Highlights for the first quarter of fiscal 2011 include the following: Restaurant operating margin improved 190 basis points to 15.0 percent. Total revenues decreased 6.0 percent to $654.9 million. Same restaurant sales at company-owned restaurants decreased 4.2 percent consisting of a 5.0 percent decrease at Chili's and a 1.4 percent increase at Maggiano's.
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Buffalo Wild Wings, Inc. Announces Third Quarter 2010 Results
Buffalo Wild Wings, Inc. announced today financial results for the third quarter ended September 26, 2010. Highlights for the third quarter versus the same period a year ago were: Total revenue increased 14.0% to $151.3 million. Company-owned restaurant sales grew 13.9% to $137.0 million. Same-store sales increased 2.6% at company-owned restaurants and 0.3% at franchised restaurants.
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Kona Grill, Inc. Reports Third Quarter Results
Restaurant sales increased 7.1% to $21.6 million from $20.2 million during the same quarter last year. The increase in restaurant sales during the third quarter reflects additional revenue from two restaurants opened since August 2009. Same-store sales were flat during the third quarter of 2010 compared to a decrease of 9.9% in the prior year period.
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P.F. Chang’s Reports Third Quarter 2010 Results
Highlights for the third quarter of 2010 compared to the prior year quarter include: Consolidated revenues increased 6.2% to $308.4 million. Comparable store sales increased 2.3% at the Bistro and 0.8% at Pei Wei. Income from continuing operations increased 68.1% to $10.5 million.
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Panera Bread Reports Q3 2010 Diluted EPS of $0.75, up 23% Over Q3 2009, on 6.9% Growth in System-Wide Comparable Bakery-Cafe Sales
In the third quarter of fiscal 2010, system-wide comparable bakery-cafe sales increased 6.9%, Company-owned comparable bakery-cafe sales increased 5.5%, and franchise-operated comparable bakery-cafe sales increased 7.9% versus the comparable period in fiscal 2009. Two year system-wide comparable bakery-cafe sales increased 9.6%, two year Company-owned comparable bakery-cafe sales increased 8.7% and two year franchise-operated comparable bakery-cafe sales increased 10.3%.
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CHAIN NEWS – Marketing |
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Bruegger's Joins Children's Miracle Network in Mission to Raise Money for Children's Hospitals
Today Bruegger's Enterprises Inc. announced a new partnership with Children's Miracle Network, a charity that raises funds for 170 children's hospitals throughout North America. October 27 will kick off Bruegger's first company-wide fundraising program with Children's Miracle Network.
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CiCi's Pizza Launches Campaign to Show Families That 'Thank Yous Count'
Every visit to CiCi's Pizza, home of the $4.99 endless pizza, pasta, salad and dessert buffet, ends with two words: Thank You. This November, CiCi's will provide our communities and guests an opportunity to show appreciation this Thanksgiving with "Thank Yous Count." Starting Nov. 1 and continuing through the end of the month, each restaurant will stock "Thank Yous Count" trackers.
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Win Free Weekly Bagel Sandwiches from Manhattan Bagel
Entrepreneur Akram Kwaik will celebrate the 15th anniversary of his Manhattan Bagel location at 764 Bloomfield Avenue in West Caldwell, New Jersey, with a food giveaway on November 4. Manhattan Bagel will present the first 100 people in line with coupons valid for one free Breakfast Sandwich a week for a year.
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McDonald’s Pushes Harder for Multi-Billion Coffee Business
McDonald’s uses a broad array of marketing tactics, but historically it has left head-to-head-taste-test comparisons to bloggers. That’s why it’s interesting that the chain this week has launched a taste-test TV commercial for its McCafé coffee in Australia. The spot opens with a young woman’s assertion that “Blind taste tests have shown that more people prefer McCafé coffee” compared with another leading chain, which isn’t identified, leaving us all free to think “Starbucks,” though the competitor isn’t named.
| BurgerBusiness.com 10/27/10 |
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McDonald's and the Hispanic Scholarship Fund Host Free College Workshop in Los Angeles for Parents and Students
McDonald's and the Hispanic Scholarship Fund (HSF) join forces for the fourth consecutive year to present the McDonald's Steps for Success College Workshop in Los Angeles on Saturday, November 13 from 9:00 a.m. to 1:00 p.m. at San Fernando High School.
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CHAIN NEWS – Expansion |
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Kuwaiti Retailer Alshaya Seeks to Increase Stores, Chairman Says
M.H. Alshaya Co., a Kuwaiti retailer with Middle East franchising rights for companies including Starbucks Corp. and Hennes & Mauritz AB, plans to open 1,250 new stores over the next five years. “We plan to do an average of 250 stores every year,” Executive Chairman Mohammed Alshaya said in a phone interview today from the World Economic Forum for the Middle East meeting in Marrakech, Morocco.
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California's Fatburger joins burger joints' stampede to Dallas area
California-based Fatburger is in "advanced discussions" with a potential franchisee to build 10 Dallas-area Fatburgers in the next five years, its chief executive says. It would be the first foray of the brand – known for oversize burgers and late-night crowds – into North Texas. Fatburger's announcement comes less than a month after another California chain, In-N-Out Burger, said it would open up to eight locations and a distribution center in the region by late next year.
| Dallas Morning News 10/27/10 |
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Genghis Grill Opens First Location in Lubbock
Genghis Grill is opening a brand new location in Lubbock, TX, its first Lubbock-area restaurant. The new location will offer residents a chance to "build your own bowl" to your liking from over 70 fresh ingredients. The Lubbock site is located at the intersection of Slide Road and 62nd Street, in the former T.G.I. Friday's location. Lubbock fans can look forward to the grand opening by next week.
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Healthy Fast Food Signs Area Development Deal to Open a Minimum of Five U-Swirl Self-Serve Frozen Yogurt Cafes in Salt Lake City Metro Market
This marks the second signed area development deal between U-SWIRL International and Regents. In July 2010, Regents secured franchise development rights to open several U-SWIRL cafes in the Boise, Idaho metro area, where it is currently undergoing the build-out of its first location scheduled to be opened in the next few weeks.
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Quaker Steak & Lube pushes expansion
Quaker Steak & Lube is undertaking a major expansion initiative, with one franchisee signing the casual-dining chain’s largest area development agreement to date and other franchise negotiations underway. Jacob Wright, whose Action Companies develops and manages hotels, agreed to develop 16 units in New England and New York State — excluding New York City — over the next four years.
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Red Robin Gourmet Burgers Continues Wisconsin Expansion with Opening of Brookfield Restaurant
Red Robin Gourmet Burgers, Inc. – known as the gourmet burger expert that offers craveable, high-quality menu items for families and burger-lovers alike since 1969 – will open a new Red Robin restaurant in Brookfield, located at 95 N. Moorland Road, in the Brookfield Square Mall next to Barnes & Noble on Monday, Nov. 8, at 11 a.m.
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Starbucks and Royal Caribbean to Offer First Ever Starbucks at Sea on Allure of the Seas
Something unique is brewing onboard Royal Caribbean International’s new Allure of the Seas, the world’s largest and most innovative cruise ship – the first Starbucks at sea. Through the licensing agreement between Starbucks and Royal Caribbean International, the global cruise brand owned and operated by Royal Caribbean Cruises Ltd., guests seeking signature made-to-order espresso beverages and Frappuccino blended beverages will have to look no further than their neighborhood Starbucks on the bustling Royal Promenade.
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CHAIN NEWS – Menu |
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Friendly’s to test new sandwich line
Friendly’s, the family dining chain based in Wilbraham, Mass., said it will begin testing a new line of sandwiches served on “house-baked” breads Nov. 1. Called Breadmaker’s Sandwiches, the line will be offered at 33 locations on New York’s Long Island until January when they will be re-evaluated.
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Garbanzo Mediterranean Grill adds soup offering
Garbanzo Mediterranean Grill has announced the addition of four new soups to its menu. Three of the four soups are vegan friendly, while one features all-natural chicken. All are dairy-free and the majority are gluten-free. The soups are available in a cup ($3.59) or a bowl ($4.29), in combination with half a stuffed pita and pita wedges ($6.09), or as a “Souper Meal” with rice and sauces ($5.99).
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T.G.I. Friday's Introduces an Allergen Supplement Menu
It is easier and more convenient than ever for guests with food allergies, or those who have gluten sensitivities, to dine at T.G.I. Friday's, thanks to a new Allergen supplement menu that is in place at participating Friday's restaurants as of September 15, 2010. Using easy-to-read icons T.G.I. Friday's new allergen menu will break down what food groups/categories may be found in each menu item, including eggs, wheat, soy, peanuts, shellfish and more.
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Denver-Area T.G.I. Friday's Are Introducing a New Menu with Modern Fresh, Bold, Crave-able Flavors
American restaurant icon T.G.I. Friday's has paid close attention to the evolving tastes of its consumers. Friday's has answered the call with an updated restaurant and bar menu with Friday's favorites and more than 20 fresh and exciting brand new dishes and drinks that reflect Friday's innovation and energetic vibe.
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Wendy’s Serves Up Seven Fan Favorites for 99˘
Real value means getting more of what you really want for a fair price,” said Ken Calwell, Wendy’s chief marketing officer. “We offer the best variety – from a fresh beef hamburger and crispy chicken sandwich, to a baked potato, fries and a small Frosty. Our 99¢ Everyday Value Menu continues our history of being a favorite place for value among customers.”
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CHAIN NEWS – Other |
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Bravo Brio Restaurant Group, Inc. Successfully Completes Its Initial Public Offering
Bravo Brio Restaurant Group, Inc. today announced that it successfully completed its initial public offering of 11,500,000 shares of BBRG's common stock at $14.00 per share, which included 5,000,000 shares offered by BBRG and 6,500,000 shares offered by certain of BBRG's existing shareholders, including 1,500,000 shares sold to the underwriters to cover over-allotments. BBRG's stock began trading on the Nasdaq Global Market on October 21, 2010 under the symbol "BBRG."
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ANALYST CORNER |
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Brinker: Improved Margins Today...Sales Tomorrow? (10/27)
While we are seeing value engineering work on costs, Chili’s seems to be struggling to find ways to concurrently reinvest in order to drive a sustainable sales turnaround. Such a sales stabilization will likely be the key for Brinker’s stock. We also wonder if Chili’s has higher levels of competitive encroachment since they cater to a relatively younger and higher income crowd that may also be using fast growing chains (e.g., Chipotle, Five Guys, and Buffalo Wild Wings).
| UBS Investment Bank 10/27/10 |
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BWLD: Slight Upside to 3Q Given Higher Sales; Tweaking Estimates; Maintaining Neutral Rating
Buffalo Wild Wings, Inc. announced slightly better-than-expected 3Q earnings as same-store sales (SSS) for company units modestly exceeded our forecast. While SSS to-date in 4Q have fallen back into negative territory given a difficult y/y comparison, comps are showing acceleration on a two-year basis. We are also encouraged by solid new store performance in recent months. We are maintaining our NEUTRAL rating on BWLD at this time.
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PNRA: No Apologies Here... Q3 EPS Very Good, Just Not OMG!
While the head-line metrics were very good in our view, they likely didn't measure up to whispered-expectations following the much-better-than-expected results for several high-growth peers. That pushed PNRA shares lower by about 5% last night in the after market to the $89-level.
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P.F. Chang's China Bistro, Inc.: PFCB: BUY: 3Q Heads Up: Solid Margin Flow-through Offset By G&A Bump
The company clarified its 2010 guidance calling for EPS of $1.95 (+4%) in 2010 as it laps a 53 week year, which is in-line with our $1.95 estimate. This compares to initial guidance of "$2.00...but it is a stretch". We expect the company to provide 2011 guidance with its 4Q release in February; however, the company's initial development outlook for 2011 is for 3-5 Bistro units,10-12 Pei Wei units and 7-10 international Bistro units to be opened by its intl. partners.
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INDEPENDENT OPERATORS |
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Eateries Hunger For More Clout
A group of high-profile restaurant and nightclub operators are launching a new trade association and lobbying group, arguing that doing business in the city has become increasingly cumbersome and costly. Called the NYC Hospitality Coalition, the group has the support of some of the city's most well-known restaurateurs, such as Stephen Hanson, Keith McNally, and Ken Friedman.
| Wall Street Journal 10/26/10 |
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New York's Jumeirah Essex House Takes Top Honors Once Again at the 2010 World Travel Awards
New York City's iconic Jumeirah Essex House was recognized once again at the prestigious 17th Annual World Travel Awards, taking top honors in two categories. The Jumeirah Essex House won the titles of "North America's Leading Business Hotel" and "United States' Leading Business Hotel" for the second consecutive year.
| Restaurant New Resource 10/26/10 |
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Taco Truck Parks in Boutique Space
Five years ago, Dario Wolos left a finance job to sell tacos out of a converted Volkswagen Kombi in Playa del Carmen. He's brought the concept, hippie van included, to New York with Tacombi @ Fonda Nolita. The VW van is parked in a former boutique space, out of which cooks dish out tacos like Northern Mexico-style barbacoa (beef short rib) and roast pork on corn tortillas.
| Wall Street Journal 10/27/10 |
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