Earnings season for the restaurant sector is off to a rough start.
BJ's Restaurants, Inc.
Moreover, comparable restaurant sales fell 3.4 percent in the quarter, and the company's poor outlook prompted several analyst research firms — including
Black Box Intelligence Data
In fact, same-store sales remained negative for the fourth consecutive month, while restaurant chains had to deal with declining guest counts. Meanwhile, restaurant job growth notably dropped in the month after posting solid gains over the past few months.
As a whole, same-store sales growth for September was negative 1.1 percent, marking a decline of 0.5 percentage points from August.
In fact, the third quarter of 2016 saw a same-store sales decline of 1.0 and traffic fell 3.4 percent which marks the weakest quarter since the second quarter of 2010.
Notable Restaurants Yet To Report
Several notable restaurant chains have yet to report their quarterly results. Given the industry-wide trends and bearish sentiment plaguing restaurant chains, investors should proceed into the earnings report with caution.
Below are some of the yet-to-report names and their respective report dates:
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|Oct 2016||Morgan Stanley||Maintains||Equal-Weight|
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