What has higher commodity prices got to with lower sales? Higher costs affect profit. How can they affect revenue?
Now JPM is trying to pump by saying this could be a takeover target. They should go and eat there sometime. They cannot even serve hot food. Portions are 1/2 of what they were a few years back. I wonder if they get any repeat customers.
In the CC, they keep on talking about new ovens. They think those ovens will change the world.
Full year profit estimate is $2.33. So far it is 87 cents. If they make 71 cents this quarter, they still have to make 75 cents in June quarter. That is a huge jump from 64 cents from June 12 quarter. Unless they do some shenanigans by buying back a ton of shares etc., I dont see how they can make $2.33 this FY.
Extra 2% in payroll tax should be causing consumers to rethink spending their sparse discretionary dollars. With higher prices, lower portions and lukewarm food, I cannot imagine customers lining up at Chili's.