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Technomic Foodservice Monitor
Wednesday, December 12, 2012


Welcome Richard,

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The Appeal of Specialty Coffee

Research from Technomic’s Beverage Consumer Trend Report found that the number of specialty coffee items on limited-service menus increased by 10 percent over the past two years. Read more.

TECHNOMIC PRESS ROOM
Fast-casual restaurants hold strong lead in future consumer catering growth, finds Technomic
Recent research on consumers’ use of restaurants and retailers for social catering found three-year compound annual growth rates projected at 5 percent or better for several market segments. But fast-casual restaurants are poised to outperform all other players, with projected growth at 12 percent, followed by quick-service sandwich restaurants (8 percent) and club stores (7 percent). As a group, restaurants are now capturing four times the revenue of retailers for these occasions, $19.3 billion versus $4.0 billion.
Technomic, Inc. 12/12/12 FaceBook Twitter LinkedIn Forward-email  
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CHAIN NEWS – Performance
LRI Holdings, Inc., the Parent Company of Logan's Roadhouse, Inc., Announces Financial Results for the First Quarter of Fiscal Year 2013
LRI Holdings, Inc., the parent company of Logan's Roadhouse, Inc., today announced financial results for the first quarter of fiscal year 2013 ended October 28, 2012. Selected Highlights for the First Quarter 2013 Compared to the First Quarter 2012: Opened five new company-owned Logan's Roadhouse restaurants during the first quarter 2013; Net sales increased 4.5% to $150.3 million from $143.8 million; Comparable restaurant sales declined 2.3% as an average check increase of 2.4%, was more than offset by a customer traffic decrease of 4.5%; Net loss of $10.1 million compared to a net loss of $3.3 million.
PR Newswire 12/11/12 FaceBook Twitter LinkedIn Forward-email  
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CKE Restaurants, Inc. Reports Third Quarter Fiscal Year 2013 Results
CKE Restaurants, Inc.  announced today its third fiscal quarter financial results for the twelve weeks ended November 5, 2012. The Company expects to file its Quarterly Report on Form 10-Q with the Securities and Exchange Commission  on Wednesday, December 12, 2012 after the close of the financial markets. Company-operated same-store sales increased 4.6% in the third quarter of fiscal 2013. Carl’s Jr. same-store sales increased 5.5% and Hardee’s same-store sales increased 3.6% during the quarter. The Company reported total revenue of $310.8 million for the fiscal 2013 third quarter, an increase of $18.2 million, or 6.2%, compared to the fiscal 2012 third quarter.
Business Wire 12/11/12 FaceBook Twitter LinkedIn Forward-email  
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CHAIN NEWS – Marketing
Dunkin' Donuts Celebrates 12.12.12 With Special 12-Hour Twitter Sweepstakes
Today is 12.12.12, and Dunkin' Donuts is celebrating this unique date by making the day extra sweet for 12 lucky fans. On this "day of the dozens," Dunkin' Donuts, America's favorite all-day, everyday stop for coffee and baked goods, is shining the spotlight on its famous dozens of donuts with the special one-day 12.12.12 Twitter Sweepstakes, for the chance to win one of 12 $100 Dunkin' Donuts mGifts. Beginning at 6 a.m. ET today and continuing for 12 straight hours to 6 p.m. ET, fans can tweet @DunkinDonuts to answer the question, "with whom would you like to share a dozen donuts?" Dunkin' Donuts will randomly select one winner per hour until 6 p.m. ET (12 winners total) to receive a $100 mGift to help keep them running with Dunkin' Donuts coffee, donuts and snacks through the holiday season and into the New Year.
PR Newswire 12/12/12 FaceBook Twitter LinkedIn Forward-email  
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Twelve Days of Holiday Cheer: Fazoli's Offers 99-cent Kids Meals & Other Discounts for the Holidays
The Christmas countdown has begun, with just over 12 days to go. To help bring some cheer to busy families on the go, Fazoli's has come up with its own version of Twelve Days of Christmas, offering coupons for $.99 Kids Meals and extra savings for moms and dads when you become a Fazoli's eFamily member. The savings are good now through Christmas Eve at all participating Fazoli's restaurants. To join eFamily, go to www.fazolis.com.
PR Newswire 12/11/12 FaceBook Twitter LinkedIn Forward-email  
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Moshi Monsters Happy Meal Promotion Launches In The US
Starting December 14, the monstrously popular kids hit, Moshi Monsters will invade McDonald's restaurants throughout North America for a Moshi Monsters Happy Meals promotion. The special program will give fans from coast-to-coast a chance to get their hands on exclusive Moshi Monsters toys for four weeks during the holiday season. One of eight different colorful characters from the Moshi Monsters universe will be featured in every McDonald's Happy Meal, including an all-new, top-secret mystery Moshling to be unveiled as part of the month-long promotion.
PR Newswire 12/12/12 FaceBook Twitter LinkedIn Forward-email  
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CHAIN NEWS – Expansion
Smoothie King Opens Doors To First Singapore Location
Smoothie King Franchises, Inc., the premier smoothie and nutritional lifestyle center, announced today its grand opening in Singapore—the first international Smoothie King location to open under recently appointed Global CEO, Wan Kim. Part of the company's aggressive approach to open 1,000 new domestic and international locations by 2017, the Singapore store will be one of the few hundred company stores, operated by SK USA, Inc.
PR Newswire 12/12/12 FaceBook Twitter LinkedIn Forward-email  
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Bloomin' Brands Opens First Outback Steakhouse in Shanghai
Shanghai's first Outback Steakhouse opened today on the first floor of SML Plaza in the Huangpu District. The new restaurant is the first company-owned restaurant in China for Bloomin' Brands, Inc. Outback Steakhouse opened its first international restaurant in 1996, less than 10 years after the first U.S. location. Today, the brand is a global casual dining leader with more than 200 restaurants in 20 countries and territories, including Australia, South Korea, Brazil and Hong Kong.
Globe Newswire 12/11/12 FaceBook Twitter LinkedIn Forward-email  
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Cinnabon Reaches Milestone with 1,000 Bakeries
Cinnabon is on a roll, returning to its roots in Washington to celebrate the opening of its 1,000th bakery. In 1985, Cinnabon opened the doors of its first bakery in the Sea Tac Mall in Federal Way, a suburb of Seattle. Now, 27 years later, the company's 1,000th bakery will open in Vancouver, Washington.In addition to growing its network of flagship and express bakeries to 1,000 in 2012, the Cinnabon brand has expanded its footprint to cover 48 states and 50 countries this year.
QSR Magazine 12/12/12 FaceBook Twitter LinkedIn Forward-email  
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Yogurtland Expands to Australia with Plans for 50 Stores
Now with more than 200 locations in the US, Mexico and Guam, Yogurtland announces growth plans for Australia. Yogurtland today announces the company has signed a 50-store development agreement with entrepreneur Paul Siderovski. The first location is set to open in McArthur Square, Campelltown, Sydney in January 2013.
Business Wire 12/12/12 FaceBook Twitter LinkedIn Forward-email  
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CHAIN NEWS – Menu
Dickey's New Barbecue Honey Ham Debuts in Utah
Dickey's Barbecue has turned the traditional ham on its ear by introducing a new lean, spiral cut ham glazed to perfection with a combination of sweet golden honey and Dickey's signature hickory smoke. Utah is the second market in the nation to begin serving Dickey's new Barbecue Honey Ham.
PR Newswire 12/11/12 FaceBook Twitter LinkedIn Forward-email  
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CHAIN NEWS – Personnel
Brinker International Awards Top Chili's And Maggiano's General Managers With Highest Company Honor
Excelling in all facets of business operations, giving back to the community and making guests and team members feel special are instilled attributes of the highest performing managers from Brinker International, Inc., parent company of Chili's Grill & Bar and Maggiano's Little Italy®. Brinker is proud to name Charles Legan, Managing Partner of Chili's in Manteca, Calif.; and Michael Marsico, General Manager of Maggiano's in Indianapolis, Ind., as the company-wide general managers of the year. Additionally, Kelly Tynan, Area Director overseeing several Chili's locations in the Denver market, was announced as the company's first Above Restaurant Leader of the Year award recipient.
PR Newswire 12/11/12 FaceBook Twitter LinkedIn Forward-email  
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Taco Cabana founder dies at 87
Taco Cabana founder Felix Stehling died Monday. He was 87. Stehling opened the first Taco Cabana at the corner of San Pedro and Hildebrand Streets in San Antonio in 1978. "All of us at Taco Cabana are saddened with the passing of our founder Felix Stehling and wish to express our sincere condolences to the Stehling family," said Todd Coerver, interim chief operating officer at Taco Cabana. "Felix ignited what would soon become a Texas icon when he opened a small taco stand at the corner of San Pedro and Hildebrand in San Antonio."
PR Newswire 12/11/12 FaceBook Twitter LinkedIn Forward-email  
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CHAIN NEWS – Other
Starbucks Opens First Farmer Support Center in Yunnan, China; Strengthening Commitment to China Farming Communities
As part of its commitment to elevate China’s Yunnan Province as a high-quality coffee growing region, Starbucks Coffee Company  today announced the opening of its first Asia-based Starbucks Farmer Support Center in Pu’er, China. In addition, Starbucks reported that the pilot local adaption tests for four coffee varietals, first introduced in Yunnan about three years ago under the Memorandum Of Understanding (MOU) agreements with the Yunnan Academy of Agricultural Science and People’s Government of Pu’er City, Yunnan Province, are progressing on-track. The local adaption test currently spreads across more than 650 hectares of coffee farms in eight different locations in Yunnan, and subject to local Government approvals, Starbucks is targeting the commercial planting of these coffee varietals at the end of the five-year test cycle.
Business Wire 12/12/12 FaceBook Twitter LinkedIn Forward-email  
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ANALYST CORNER
Chipotle Mexican Grill
We are maintaining our 2012 EPS estimate of $8.93 and our 3Q same store sales (SSS) estimate of 3.5%. Based on our consumer panel analysis, we believe that SSS growth is similar to or better than last quarter’s 5% rate. If sales trends remain similar against tougher weather-induced comparisons in December, then we would foresee potential upside to our current SSS growth estimate.
UBS Investment Bank 12/12/12 FaceBook Twitter LinkedIn Forward-email  

Darden Restaurants
We recently spoke to Darden management following the company's recent disappointing prerelease of 2QF13 (Nov) results. Following its revised lower 2Q and FY2013 (May) SSS and EPS guidance, we believe management has set more achievable operating goals and, assisted by its strong cash flow, industry-leading 4.3% dividend yield, relatively attractive valuation and, at recent price levels, support our Buy rating. Price target reduced to $54 from $62.
Northcoast Research 12/11/12 FaceBook Twitter LinkedIn Forward-email  
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Starbucks
Following results of our consumer panel analysis through Nov, we are maintaining our consensus-matching F1Q EPS estimate of $0.57 (+15% YOY). The panel, which has shown >90% correlation to US SSS growth, suggests F1Q SSS growth has sustained its momentum exiting F4Q and implies US SSS growth could be at least 6% in F1Q. However, as December is an important month (sales ~10% higher than average) we await more data from our panel before fine-tuning our estimates.
UBS Investment Bank 12/12/12 FaceBook Twitter LinkedIn Forward-email  

RETAIL FOODSERVICE
Casey's General Stores gets a lift from pizza delivery program
Casey's General Stores Inc. today reported its second quarter FY 2013 results, which included a drop in earnings per share impacted by lower gas margins and a decrease in cigarette sales. However, the company received a boost from its prepared food program, which Robert J. Myers, chairman and CEO, said is doing "exceptionally well." For the foodservice category, the company's goal for fiscal 2013 is to increase same-store sales by 11 percent, with an average margin of 61.1 percent. For the quarter, same-store sales were up 10.1 percent, with an average margin of 62.5 percent.
Pizza Marketplace 12/11/12 FaceBook Twitter LinkedIn Forward-email  
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DISTRIBUTOR NEWS
Performance Food Group, Inc. today announced that it has entered into an agreement to acquire Fox River Foods, Inc., an independently owned broadline foodservice distribution company serving customers in seven states throughout the Upper Midwest. The transaction is expected to close before the end of the year. “The addition of Fox River Foods will significantly strengthen our position in the region and in several key metropolitan areas, particularly Chicago,” said George Holm, PFG President and CEO. “This acquisition supports our strategic growth plans and will offer added value to existing Performance Foodservice and Fox River Foods customers.”
Business Wire 12/12/12 FaceBook Twitter LinkedIn Forward-email  
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