Corporate Insights

Potential New Home Buyers Seem to be Conserving Cash for Necessities

Potential New Home Buyers Seem to be Conserving Cash for Necessities

KB Home’s 4Q22 results exemplify the impact of depressed consumer confidence levels as evidenced by a sharp pull-back of potential new home orders from first-time buyers that largely have the financial means to complete the transactions (even with elevated mortgage rates). While KB is working hard not to discount its inventory to drive 1Q23 sales, this pullback certainly will have mid-term implications if confidence levels don’t begin to rebound soon.

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Darden Doing Swell Without Discount Seekers

Darden Doing Swell Without Discount Seekers

Management reported: a spending shift from durable household goods to leisure services, benefitting the restaurant industry; the high-end consumer is doing well & while <$50k consumers have been a little soft over the last 6 months, Darden’s mix from this demo is still above pre-covid levels; and as the <$50,000 demo includes singles & retirees living in multigenerational households, lower-income consumers are in better shape than they appear.

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The Trans Human Restaurant Operator

The Trans Human Restaurant Operator

Yum! highlighted during a recent analyst day presentation how its strategy to acquire proprietary tech companies provides a key advantage relative to competitors who must rely on commoditized solutions from third parties.

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Jack in the Box Corporate Insights

Jack in the Box Corporate Insights

Jack in the Box results reflected an improvement in: dining room openings (60% of system); innovation, upsell & add-ons sales; digital progress which is helping frequency; and late-night.

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