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Fly News Breaks for January 3, 2020
Jan 3, 2020 | 09:24 EDT
BTIG analyst Peter Saleh writes that the overall restaurant industry may experience a steeper decline in 2020 traffic as more U.S. customers stay at home to watch political debates and the summer Olympics as observed four years ago in 2016. The analyst contends however that the trend is positive for the concepts that cater to off-premise dining and are growing their advertising budgets. Saleh sees Buy-rated pizza delivery names Domino's Pizza (DPZ) and Papa John's (PZZA) as key beneficiaries, naming them "top picks" in his Restaurants 2020 Outlook research note. The analyst also keeps his Top Pick designation for Buy-rated Chipotle (CMG), where he expects another year of sales growth and margin expansion. Separately, Saleh sees outsized labor cost pressure for "California-heavy" operators - where the minimum wage will rise 8.3% - including Del Taco (TACO), Jack in the Box (JACK) and Cheesecake Factory (CAKE), keeping his Neutral rating on those names.
News For DPZ;PZZA;CMG;TACO;JACK;CAKE From the Last 2 Days
Jan 19, 2022 | 09:09 EST
Del Taco Restaurants opened its Fresh Flex location at 5260 US HWY 192 in Orlando, FL last month. The new Fresh Flex design is tech enabled and includes options such as mobile app and third-party pick-up lockers, double drive-thru lanes with dedicated lanes for mobile orders and delivery providers, and designated parking lot areas for those who want to park and eat on the go. "Our new Fresh Flex design is primed to capitalize on opportunities as it allows our franchisees to leverage a variety of real estate options. Now more than ever, a format that allows for flexibility is crucial," said Del Taco's CEO, John Cappasola. "We have had so much excitement from current and prospective franchisees for Fresh Flex and our Menu of Venues model and I am thrilled that our first Fresh Flex drive-thru only location will be built by a franchisee in 2022."