McDonald’s, Chipotle Mexican Grill and Domino’s Pizza are among the restaurant companies reporting their earnings next week.
during tough economic times, because of their relatively cheap prices and perception of being an affordable luxury.Investors will likely look to April for a better idea of consumer-spending trends, Bank of America Securities analyst Sara Senatore wrote in a research note published Wednesday.
Starting in the second quarter, restaurants will face comparisons to last year's sales bump driven by double-digit price increases, so they'll have to depend on higher traffic to drive sales growth.
The relatively high valuations for restaurant stocks bring a downside for the industry, McCarthy said. McDonald's, Starbucks, Chipotle,and Yum are all trading at more than 30 times their price-to-earnings ratio, according to Factset data.
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