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Thoughts on Who’s Next

Inspire Brands, affiliated with private equity firm Roark Capital, announced the intended purchase of Sonic Corp. (SONC), at a premium of about 18% to the market price prior to the offer. Visit www.rogerlipton.com to view free restaurant company descriptions and other articles.

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The Restaurant Finance Monitor Stock INDXX Outperforms in Third Quarter

The Restaurant Finance Monitor Stock INDXX continues to outperform the broader stock market indices. Through September 28, 2018 the index was up 20.6% year-to-date and 25.5% over the past 12 months. For comparison, the S&P 500 index was up approximately 8.9% and 15.6%, respectively.

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Control of the NRA Show Shifts to Winsight

The National Restaurant Association will no longer manage or own its annual convention, commonly called the Restaurant Show.

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Court Shoots Down Dine Global (DIN) in Applebee’s Franchise Termination Case

A main point of contention in the bankruptcy case of RMH Franchise Holdings is whether their franchise agreements were terminated prior to a bankruptcy filing. A court says, "No."

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Darden (DRI) Has Excellent Quarter In Still Tough Environment, What’s Cooking?

Darden Restaurants (DRI) has just proved to be the exception to the recent rule among restaurant operators. They reported an excellent quarter, with blended same store sales up 3.3%, and traffic up a bit, which hardly anybody else is accomplishing. Visit www.rogerlipton.com to view free restaurant company descriptions and other articles.

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Restaurants To Bear the Brunt of Rising Distribution Costs

Piper Jaffray analysts Nicole Miller Regan and Josh Long’s recent conference call on foodservice distribution isn’t good news for restaurant chains looking for falling food commodity costs to offset rising labor expense.

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Cracker Barrel's Fourth Quarter—A Metaphor For The Industry?

If anybody thinks it is getting any easier out there, Cracker Barrel's report yesterday should provide a dose of reality. Comp sales declined 0.4% in the fourth quarter ending July 31, but the average check increased by 3.5% (menu price increase was 2.7%), so traffic was down about 3.5%.

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Dave & Buster's (Play) Reports Q2—Stock Up 7%—How Is Big Bet (Virtual Reality) Doing?

Dave & Buster's Entertainment reported their second quarter results last Thursday and the stock responded positively, up 7-8% on the slight sales "beat," the more material EPS beat, and positive company commentary regarding results of the new Virtual Reality platform. Visit www.rogerlipton.com to view free restaurant company descriptions and other articles.

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The Restaurant Finance Stock Market Index Outperforms in Second Quarter 2018

In this second quarter ending June 30, 2018, the value of the Restaurant Finance Monitor Stock Index increased 14.63%, which brings the YTD performance to 14.84%, including dividends. That easily beat the S&P 500 Index which gained 2.9% during the quarter.

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Time Running Out for CFOs to Adopt New FASB Standard

There are some big changes coming to the accounting department, and many companies have been slow to react.

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Papa John's (Pzza)—Should You Be Long Or Short This One?

I don’t normally disclose our “bottom line” in terms of our position (long or short) in companies that I write about. However, Papa John’s is sufficiently liquid in terms of trading volume and adequately controversial in terms of the investment community’s dialogue. Visit www.rogerlipton.com to view free restaurant company descriptions and other articles.

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Cristin O’Hara: Long-term Strategy Is Recipe for Financing Success

Cristin O’Hara appreciates a good story. The fact that restaurant operators often have an interesting story to tell is one of the reasons that drew her into restaurant finance in the first place. O’Hara currently serves as the managing director and head of the Restaurant Group at Bank of America Merrill Lynch.

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The Mess at Papa John’s

Papa John Schnatter’s loose lips now put him in the same camp as former race luminaries Jimmy The Greek and Donald Sterling. The only thing I’ll say here about Schnatter’s faux pas: It’s not good for selling pizzas.

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Restaurant Brands International (NYSE-QSR)—A Single-Digit Grower for the Foreseeable Future

The recent press release by Restaurant Brands International (NYSE-QSR) relating to initiatives at Tim Hortons, 
its now admitted troubled subsidiary that contributes about half of its corporate EBITDA, tells us a
lot about the prospects for the company over the next few years. Visit www.rogerlipton.com to view free restaurant company descriptions and other articles.

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Dine Brands Global—IHOP and Applebee’s Initiatives Galore. Is There a Chance of Success?

Dine Brands Global, previously known as DineEquity, operator and franchisor (franchisor mostly) of the IHOP and Applebee’s brands, has had its share of challenges in recent years. Visit www.rogerlipton.com to view free restaurant company descriptions and other articles.

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Josh Lewis: Real Estate Experience on Both Sides of the Table

As senior vice president of acquisitions at National Retail Properties (NNN-NYSE), Josh Lewis is helping the net lease REIT acquire on average between $650 million and $850 million in restaurant and retail properties each year. But it was not long ago Lewis was sitting on the other side of the table helping restaurant operators structure sale-leaseback transactions.

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Conferences

Cosmopolitan Hotel

Restaurant Finance & Development Conference
November 12-14, 2018​
Wynn/Encore Las Vegas​

Find financing and make deals at the best networking event in the restaurant industry.

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FINANCE & REAL ESTATE DIRECTORY

Franchise Times would like to introduce you to the lenders and real estate advisory sources that are targeting the restaurant industry.

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Finance & Real Estate Directory

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