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News Breaks
February 27, 2013
13:06 EDTEATBrinker provides FY13 outlook, long term vision
Leaders from Brinker International provided an update on the company's fiscal 2013 outlook and shared long-term goals being discussed in today's investor conference. "Brinker expects to deliver on our promise of doubling earnings per share. This could happen by fiscal 2014, a full year earlier than initially projected," said Wyman Roberts, CEO and President of Brinker International. "We're now looking to the next milestone by setting another long-term goal: to double our fiscal 2012 earnings per share by fiscal 2017. This is yet another aggressive goal, but we are committed to attaining it by driving 10 to 15 percent annual EPS growth during this period." The business strategies for the next five years build upon the foundation of Brinker's current successes. The company has evolved to operate in a mature space by reducing costs in the middle of the P&L while reinvesting back into the business with initiatives that enhance the guest experience. Moving forward, the company will continue to have a balanced approach to doubling EPS, with topline initiatives playing a greater role in overall growth. Chili's Grill & Bar will focus on food innovation, improved operational consistency and moderate unit growth. Maggiano's Little Italy will leverage a new restaurant prototype to grow their brand. The global side of the business will step up unit development to become the guests' top choice for casual dining internationally. Brinker projects 3%-5% revenue growth, driven by 2%-3% domestic comp sales growth, and approximately 3% international comp sales growth. Starting in fiscal 2014, the company projects unit growth of 1%-2% for Chili's in the U.S., 5%-10% for Maggiano's, and ongoing 10%-15% global growth. Brinker will generate up to 1% annual margin improvement, driven by sales leverage on restaurant labor and restaurant expenses, continued emphasis on labor productivity improvements and flat cost of sales. The company expects to continue to generate strong cash flow and maintain a consistent strategy regarding the prudent allocation of capital. This will add to Brinker's commitment to return cash to shareholders through a competitively favorable dividend, and at least $1B of share repurchase over the next five years. The combination of focusing on these outlined strategies will result in Brinker delivering annual EPS growth of 10%-15% and doubling EPS to at least $4.00 per share by fiscal 2017.
News For EAT From The Last 14 Days
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October 22, 2014
08:48 EDTEATBrinker weakness creates buying opportunity, says Sterne Agee
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October 21, 2014
10:36 EDTEATBrinker 'optimistic' about Maggianos during holiday season
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10:29 EDTEATBrinker backs guidance of 25-50 bp of restaurant-levell op margin expansion
The company said we were not surprised by margins with the exception of the commodity expenses. Expects commodity expenses also comes back in line. The company said it is now working on changing the trajectory of the brand at Chili's with a lot more initiatives to come. It said it is nowhere near the end of the potential of grow market share. Comments taken from Q1 earnings conference call.
07:48 EDTEATBrinker reports sales up 3.4% $686.9M, comparable restaurant sales up 2.4%
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07:47 EDTEATBrinker reports Q1 Chili's comparable restaurant sales up 2.6%, traffic up 0.1%
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07:46 EDTEATBrinker reports Q1 EPS excl items 50c, consensus 50c
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October 20, 2014
14:29 EDTEATBrinker technical notes ahead of earnings
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13:33 EDTEATEarnings Preview: Brinker still sees $4 in EPS by 2017
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October 14, 2014
10:01 EDTEATOn The Fly: Analyst Downgrade Summary
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06:42 EDTEATBrinker downgraded to Hold from Buy at KeyBanc
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October 10, 2014
10:01 EDTEATOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 2U (TWOU) initiated with an Outperform at Pacific Crest... Bloomin' Brands (BLMN) initiated with an Outperform at BMO Capital... Brinker (EAT) initiated with a Market Perform at BMO Capital... Buffalo Wild Wings (BWLD) initiated with an Outperform at BMO Capital... Chipotle (CMG) initiated with a Market Perform at BMO Capital... Chuy's (CHUY) initiated with a Market Perform at BMO Capital... Darden (DRI) initiated with a Market Perform at BMO Capital... EMC (EMC) initiated with a Buy at Jefferies... EPR Properties (EPR) initiated with a Buy at BofA/Merrill... HP (HPQ) initiated with a Hold at Jefferies... IBM (IBM) initiated with an Underperform at Jefferies... McDermott (MDR) initiated with an In-Line at Imperial Capital... NetApp (NTAP) initiated with a Hold at Jefferies... New Residential (NRZ) initiated with a Neutral at Piper Jaffray... Nimble Storage (NMBL) initiated with a Buy at Jefferies... Noodles & Company (NDLS) initiated with an Outperform at BMO Capital... PDC Energy (PDCE) initiated with an Overweight at Stephens... Panera Bread (PNRA) initiated with a Market Perform at BMO Capital... Pioneer Natural (PXD) initiated with an Outperform at Imperial Capital... Resource America (REXI) initiated with a Buy at MLV & Co.... Rex Energy (REXX) initiated with an Overweight at Stephens... Seagate (STX) initiated with a Buy at Jefferies... Silicon Motion (SIMO) initiated with a Buy at Brean Capital... Texas Roadhouse (TXRH) initiated with a Market Perform at BMO Capital... W.P. Carey (WPC) initiated with a Neutral at BofA/Merrill... Wayfair (W) initiated with a Buy at Janney Capital...Western Digital (WDC) initiated with a Buy at Jefferies... Yelp (YELP) initiated with a Buy at Sterne Agee.

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