The market is stuck in neutral today but not the restaurant stocks. Gains are dramatic across the board - McDonalds + $1.73, Darden + $1.21 and YUM Brands +.74 are just some of the names popping. The financial “talking heads” are saying lower food costs are driving these stocks higher.
Our take is that there is a continued changing demographic in the US. Just like on-line shopping and cell phones have become commonplace so have women working (and not in the home) - a $30 meal at Olive Garden (Darden owned) has become almost a necessity more than a luxury.
We have written several times about “little luxuries” gaining traction and this seems to be more evidence of that - consumers are willing to eat out BUT not take on debt buying a car or furniture.
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Restaurant Names Higher
Monday, March 8th, 2010
| « Commentary for March 3, 2010 | Don’t ignore the obvious » |
| « Commentary for March 3, 2010 | Don’t ignore the obvious » |
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