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Famous Dave's of America Inc. Message Board

  • OffTheCharts OffTheCharts Jul 21, 1998 11:48 PM Flag

    No Bones about it

    Hutch, I think you should sell your stock and use
    the money to eat at Dave's. You are too emotionally
    attached to this stock and It seems eating beans is the
    only pleasure you contrive from this overhyped
    restaurant's stock. I too enjoy the place now and then. But I
    won't be investing my $ in this doggy.
    ( P.S.) 90%
    of the bean recipe` is Bushes baked beans. Honest

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    • O2J:

      You're great! Thank you for getting that report and typing it in. I appreciated it and I'm sure do did many other readers.

      Keep up the great work!

    • I read about Lanham in either the Mpls/Trib or
      Nations Restaurant News(I read a ton of stuff).
      Re:
      the rib team, My point was more toward the fact that
      the company should be focusing on profitability and
      strengthening their vision. Not running around trying to prove
      themselves to everyone and running around w/ so many
      different concepts.
      People may try the ribs at a fest,
      like 'em and then go to the restaurant and find that
      they're not the same. That could hurt future
      sales.
      They should focus on long-term positive same-store
      sales.
      The only good thing about slow sales in the Chicago
      store will be the chance to report great positive same
      store sales in that unit.
      Just read the latest R&I
      and Dave was in there too. Dave should definitly hang
      on to his PR company, they're doing a great
      job.
      OTC-

    • It wasn't meant for you.
      It was for the puss
      guy and the others that were endorsing spam mail.
      Sorry about the confusion, your message was the last
      one I read and therefore ended up as a reply to
      you(but not intended for you).
      OTC-

    • Where did you read Lanham's reasons for leaving? And the Rib team creates revenue and free marketing too boot. Its too bad summer isn't all year long.

    • What is this---- Dain Rauscher 7/30/99 Report "We
      are also lowering our rating to Neutral from Strong
      Buy-Speculative until we begin to see imprivements in the
      company's overall performance"-- What are imprivements
      anyway------I Famous Picks has raised my rating on this stock
      from Very good to Just super, thank you.----By the end
      of 1999 this stocks price will be between 4 and
      5.-----So who you going to believe me or some stupid report
      like that. HAVE A NICE DAY!_

    • Recently Opened Chicago Blues Club Puts Pressure
      on Sales and Margins; Lowering Esimates and
      Rating

      by David A. Geraty

      The second quarter loss
      from operations was $0.03, $0.06 less than our
      expectations, due in part to the shortfall in revenues at the
      Chicago Blues Club, compounded by the higher than
      expected pre-opening costs. Throughout the quarter, it
      became apparent the complications at the Blues Club were
      putting significant pressure on both sales and margins.
      Going forward, we remain neutral on the company untill
      improved performance is demonstrated.

      Revenues in
      the second quarter were up 15.6% to $12.6 million,
      less than our $13.4 million estimate. Revenue gains
      reflect the additional units in operation, 23 vs. 21,
      including the recent late opening of the Chicago Blues
      Club, and an increase in same store sales of 3%. We do
      continue to expect positive comps for the remainder of the
      year, which could provide a source of potential upside
      to our earnings estimates over time. management
      continues to evolve the menu at the Lodges and Blues Clubs,
      with recent additions meant to broaden appeal and
      build requency while maintaining the focus on great
      tasting smoked meats and barbecue. We expect 1999
      development of four units, including the new Blues Club in
      Chicago, Illinois, which opended on May 3, and threee
      Lodge format locations. Cash on hand ($2.0 million),
      from operations, a $4.5 million credit agreement,
      untapped to date and $4.5 million in sale-leaseback
      proceeds announced in early April will be sufficient ot
      meet the company's capital needs for
      1999.

      Restaurant income decreased 19.2% to $772,000 vs. our
      estimate of $1.5 million. Food and beverage costs were
      down 140 basis points to 34.8% of total revenues, vs
      our estimate of 34.3%, with margin gains reflecting
      improved purchasing economics, rib prices, locked in
      through the third quarter, and higher rib yields. Labor
      costs increased 150 basis points to 28.1%, reflecting
      labor inefficiencies due to the tight labor market.
      Occupancy and other increased 310 basis points due to the
      added expenses associated with the new Chicago Blues
      Club. G&A expenses improved significantly to 8.2% of
      total revenues vs. 12.1% last year, reflecting
      downsizing that occured last year and improved sales
      leverage.

      Stock Opinion: Famous Dave's of America, Inc. is an
      early-stage growth restaurant company with attractive
      long-term investment prospects driven by an exciting growth
      concept and a passionate founder. We are lowering our
      1999 estimates $0.06 to ($0.06) to reflect the
      weakness in the quarter, although stronger sales and
      continued focus on improving margins could result in
      raising these estimates over time. We are also lowering
      our rating to Neutral from Strong Buy-Speculative
      until we begin to see imprivements in the company's
      overall performance.

      There you have it.

    • Why are you sending that to me?

    • I will check to see if there is a new report

    • Item 6-g in terms of service contract
      states:
      Shall not upload, post, email or otherwise transmit any
      unsolicited or unauthorized advertising, promotional
      materials, "junk mail," "spam," "chain letters," "pyramid
      schemes," or any other form of solicitation, except in
      those areas (such as shopping rooms) that are
      designated for such purpose;

    • All the spam supporters seem to be new posters.
      I wonder if there's any coincidence???

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