| 2016-07-08 07:29:34|
DRI, EAT… 07:29 07/08 07/08/16
Casual dining checks point to significant deceleration in June, says Canaccord
Canaccord analyst Lynne Collier said the firm's checks indicate a material decline in sales and traffic trends in casual dining restaurants was seen in June. Among the reasons for the slowdown, Collier points to the reversal in gasoline prices, consumers eating at home and the uncertain political environment. The analyst projects same-store sales for the casual dining segment will decline 2%-2.5% in June. Publicly traded companies that own casual dining brands include Darden (DRI), Ruby Tuesday (RT), Bloomin' Brands (BLMN), DineEquity (DIN), Denny's (DENN), Brinker (EAT) and Buffalo Wild Wings (BWLD).