Dunkin’ Doings

Yesterday, Dunkin’ released a “double beat” on its Q1 revenues and earnings – $7 million higher on revenues and $.05 EPS higher on earnings. The stock was up early on the day, but closed slightly lower for the day. Declaring a 37.5 cent stock dividend, Dunkin’ CEO Dave Hoffmann reported that US same store sales…

Read More »

Starbucks Earnings

Starbucks reported 2nd quarter earnings yesterday and our analyst reports that their sales and earnings results were solid but not overpowering. America’s same store sales were plus 4%, with transaction counts flat and their average ticket 4% higher.  In the US, Starbucks continues to both open and close stores in tandem. Management noted they were working…

Read More »

Dunkin’ Doings

Through industry comments and discussion along with lender reporting, DDIFO Restaurant Analyst John Gordon at Pacific Management Consulting Group was able to point to some very good news with for Dunkin’ franchisees this week. Per industry conference comments, Dunkin’ US franchisee exit multiples remain strong with US Dunkin’ brand unit multiples increasing slightly from 2017…

Read More »

Dunkin’ Doings

Dunkin’ held its Q4 earnings call yesterday and reported earnings above expectations ($.06 GAAP basis) but revenue $10 million below. In addition, it delivered a much more muted expectation for 2019 in terms of both new unit growth and earnings. US net new opens stood at 106, while US same store sales were flat in…

Read More »

Competitor News

Starbucks, making more than its share news of late – Chairman Howard Schultz announced his departure from the company, and then opening their restrooms to the public in the wake of the Philadelphia debacle – this week announced that it expects comparable sales to rise just 1% globally for the current quarter and would therefore…

Read More »

Dunkin’ Earnings

Dunkin Brands reported Q1 2018 earnings on Thursday, reporting a $0.09 EPS earnings beat versus consensus, revenue was $1.8 M light, while the stock was down $ .31 for the day, having changed little. Dunkin US reported negative .4% for same store sales, with ticket up and traffic down by unspecified amounts. The impact of…

Read More »

Competitor News

McDonalds CFO presented at the Bank of America Consumer Conference this week and gave much interesting information. Breakfast is their weaker daypart in terms of sales growth currently, down slightly, while lunch and dinner were up. Delivery is proving to be incremental sales and profit dollars thus far, despite commissions paid. Profitable delivery was associated…

Read More »

Dunkin’ Doings

Dunkin Brands had both its Q4 earnings and 2018 Investor day events this week and what emerged is a company in deep repositioning mode. Dunkin opened eyes to reveal pretty meek 2018 DD same store sales estimates (plus 1 percent for the year, Q1 was said to be “choppy”) and decreased the DD 2018 open…

Read More »

Competitor News

Starbucks had a very difficult reception on Wall Street to its sales and earnings narrative released yesterday. Q1 US same store sales was plus 2, all average ticket, and zero traffic gains from last year. They repeated a now familiar story of weak afternoon and evening business, and declining foot traffic of units inside some…

Read More »

Independent Joe #47 December 2017/January 2018

There is always a certain amount of fear and trepidation about the unknown. Think back to 1999 as we approached the turn of the millennium and the catastrophes that were forecast to accompany Y2K, as it was then known. To hear some tell it back then, computers were going to think the year was 1900,…

Read More »