From a fundamental perspective, we have to wonder why restaurant fortunes in general have not improved in recent months. Over the winter, the unusually cold weather was blamed. But as the days got warmer, sales did not heat up. And even as gasoline prices plummeted diners did not open their wallets any wider.
On the sentiment front, poor action on good news is bearish. When things go wrong when there is every reason for them to go right we know that something deeper is going on in the market in question. (more)
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