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Jamba (JMBA)

Jamba Juice announced today the official launch of hot beverages will occur on March 1, 2010, in over 340 stores. The launch includes 10 new high quality, great tasting hot beverage items including four "uniquely Jamba" hot blended offerings called Hot Blends(TM) beverages and six organic Mighty Leaf (R) Tea whole leaf tea pouches. Jamba Juice will also be introducing additional baked goods and a new beverage, the Chill-icious Chai(TM) smoothie.
Hot Blends(TM) beverages will be launched in over 340 Jamba Juice locations across markets in California, New York, Seattle, Minnesota, Florida, Chicago, Portland, Texas, and Hawaii. As of October 6, 2009, Jamba Juice had 742 locations consisting of 488 company-owned and operated stores and 254 franchise stores.

Jan 12 · 7:41:00 AM · Source: Company Press Release
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by Rich Pike

Cosi (COSI)

Restaurant News reports that Cosi completed last week a shareholder rights offering that will raise about $5 million. Cosi will issue 10 million shares. Shareholders were given one-to-one subscription rights to acquire 0.2447 shares of common stock at a subscription price of 50 cents per full share. Shares closed at 75 cents per share on Monday. Read more: http://www.nrn.com/breakingNews.aspx?id=377994#ixzz0cOsKOPUp
Seems like good timing for the rights offer. They go from 40 million to 50 million shares outstanding (a 25% dilution) and with the current market environment the stock price didn't go down at all.

Jan 12 · 7:28:00 AM · Source: Restaurant News
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by Rich Pike

Burger King Holdings Inc. (BKC)

Deutsche Bank downgraded Burger King Holdings Inc. from Buy to Hold.
Deutsche's analyst said "For fiscal 2Q10 (Dec qtr.), we have trimmed our SSS forecast to -3.4% from -2.7% previously. While this is not a huge reduction, the bigger concern is the current (Mar) quarter. We’re currently at -3.5% SSS, but the Dec/Jan trend suggests this could be too optimistic. We are lowering our FY10E EPS to $1.37 from $1.43 on lower sales and margin assumptions. FY11E goes to $1.58 from $1.66."

Jan 12 · 7:14:00 AM · Source: StreetInsider.com
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by Rich Pike

Einstein Noah (BAGL)

Einstein Noah reported preliminary results for the 13-week period ending December 29, 2009. Total revenues were virtually flat at approximately $103.7 million compared to $103.9 million in the fourth quarter of 2008. System-wide comparable store sales showed sequential improvement in the latest quarter. Comparable store sales decreased 1.5%, with a 1.1% decline in transactions, while Company-owned comparable store sales decreased 1.8%, including a 1.6% decline in transactions. Based upon these top-line results, as well as the Company's expectations for an improvement in gross margins, the Company expects fourth quarter 2009 EBITDA of between $12.6 and $12.9 million. Excluding any possible impairments, the Company expects diluted EPS of between $0.22 and $0.23.
Jeff O'Neill, CEO and President of Einstein Noah, stated, "We were pleased to end 2009 on a 'high note' with what we consider to be strong preliminary quarterly results, including our best comparable store sales and transaction performance of the year in what continues to be a challenging consumer spending environment. We are proud of our ability to increase our cash flow generation and our commitment to deploying capital in a manner that can lead to long term value creation. As we move into 2010, we look forward to building upon our accomplishments as we position ourselves for an even brighter future."

Jan 12 · 7:07:00 AM · Source: Company Press Release
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by Rich Pike

Peet's Coffee & Tea (PEET)

StreetInsider.com is reporting that Peet's Coffee & Tea President and CEO, Pat O'Dea, has said that he sees 20-25% EPS growth with the recent Diedrich acquisition, or FY10 EPS of $0.80-$0.90. The Street is currently looking for FY10 EPS of $1.27. O'Dea also said he sees 15-20% market share in the Specialty category and expects to triple profitability in the Grocery segment.
That's a large discrepancy between the Street's expectations and the company's. At a closing price of $33.69 last night, the stock is selling at a frothy PE of 35.

Jan 12 · 7:01:00 AM · Source: StreetInsider.com
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by Rich Pike

BJ's Restaurants (BJRI)

Restaurant News is reporting that BJ’s Restaurants Inc. plans to maintain its focus as a premium casual-dining destination with a lower average check to garner favor with consumers who are tired of older casual dinnerhouses, but still want value.
Last week, BJ's reported preliminary fourth-quarter results that included a 13.4-percent rise in revenue to $112.6 million. Same-store sales declined 0.2 percent for the Dec. 29-ended quarter, compared with a 0.7-percent drop a year ago. For the full fiscal year, BJ’s said revenue increased 14.1 percent, to $426.7 million, as the year-over-year number of restaurants grew to 92, versus 82 in fiscal 2008. Full-year same-store store sales fell 0.8 percent, compared with a decrease of 0.3 percent in 2008. The company expects guest traffic in 2010 to remain under pressure, and post-recession same-store sales to grow between 1 percent and 3 percent annually.

Jan 12 · 6:54:00 AM · Source: Restaurant News
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by Rich Pike

McDonald's (MCD)

Don Thompson, currently President of McDonald USA, has been elected to the role of President and Chief Operating Officer, with oversight responsibility for the company’s 32,000 restaurants worldwide. In addition, the company announced the promotions of Jan Fields, currently EVP Executive Vice President and Chief Operations Officer for McDonald’s USA, to succeed Thompson as President of McDonald’s USA, and Jim Johannesen, currently U.S. Division President—Central Division, to succeed Fields as EVP and Chief Operations Officer for McDonald’s USA.
Thompson, 46, began his McDonald’s career in 1990 as an engineer in the Restaurant Systems Group. He moved into restaurant operations four years later, and rose quickly through the operations ranks. He was named Regional Manager of the San Diego Region in 1998, and was promoted to Regional Vice President a year later. In 2000 he was named President of the Midwest Division of McDonald’s USA, and in 2001 was appointed President of the company’s West Division. In 2004, he returned to Oak Brook as EVP of McDonald’s Restaurant Systems Group. A year later he was promoted to EVP and Chief Operations Officer for McDonald’s USA, and in 2006 was named President of McDonald’s USA.

Jan 12 · 6:50:00 AM · Source: Company Press Release
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by Rich Pike

AFC Enterprises (AFCE)

AFC reported global same-store sales decreased 1.0 percent in the 2009 fiscal fourth quarter ended Dec 27th, compared to a decrease of 2.1 percent during the same time last year. Global same-store sales increased 0.7 percent for the full fiscal 2009. The Company expects 2009 reported earnings to be at the upper end of $0.66-$0.70 per diluted share, compared to reported earnings of $0.76 per diluted share in 2008.
AFC Enterprises, Inc. is the franchisor and operator of Popeyes® restaurants, the world's second-largest quick-service restaurant chicken concept based on number of units. As of December 27, 2009, Popeyes had 1,943 restaurants in the United States, Puerto Rico, Guam and 27 foreign countries.

Jan 11 · 4:22:00 PM · Source: Company Press Release
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by Rich Pike

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