Carrols Restaurant Group Inc
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Consumer Discretionary : Hotels, Restaurants & Leisure | Small Cap Value
Company profile

Carrols Restaurant Group, Inc. is a restaurant company. The Company is engaged in operating Burger King restaurants. The Company operates approximately 1,029 Burger King restaurants in 23 Northeastern, Midwestern, Southcentral and Southeastern states and 65 Popeyes restaurants in seven Southeastern states. Burger King restaurants features Whopper sandwich, as well as a variety of hamburgers, chicken and other specialty sandwiches, french fries, salads, breakfast items, snacks, soft drinks and other offerings. Popeyes Restaurants are quick-service restaurants offering a limited menu of lunch and dinner products, and in certain restaurants breakfast products. Its menu features a fried chicken sandwich, spicy chicken, chicken tenders, biscuits, fried shrimp and other seafood, red beans and rice and other quick-service menu items.

Price
Delayed
$2.47
Day's Change
-0.1314 (-5.05%)
Bid
--
Ask
--
B/A Size
--
Day's High
2.64
Day's Low
2.43
Volume
(Average)

Today's volume of 222,692 shares is on pace to be in-line with TAST's 10-day average volume of 247,846 shares.

222,692

Target blows past quarterly earnings expectations and says shelves are full for holiday season

4:10 pm ET November 17, 2021 (MarketWatch)
Print

By Tonya Garcia

Target says inventory is up by $2 billion from last year after efforts to bypass global supply chain disruptions

Target Corp. Chief Executive Brian Cornell says the retailer continued to show the same strength heading into the back end of the year as it did during the front end, reporting third-quarter earnings and revenue that blew past Street expectations.

Net income totaled $1.49 billion, or $3.04 per share, up from $1.01 billion, or $2.01 per share, last year. Adjusted EPS of $3.03 was ahead of the FactSet consensus for $2.82.

Revenue totaled $25.65 billion, up from $22.63 billion a year ago and also ahead of the FactSet consensus for $24.61 billion.

Digital sales were up 29%. And comp sales growth, which the company says was driven by traffic, was up 12.7%. The FactSet consensus was for growth of 8.2%.

"With a strong inventory position heading into the peak of the holiday season, our team and our business are ready to serve our guests and poised to deliver continued, strong growth, through the holiday season and beyond," Cornell said in an earnings statement.

See: Walmart, Target, Home Depot and other large retailers are chartering ships to bypass supply chain problems. Will the strategy save Christmas?

Target (TGT) says inventory is up more than $2 billion compared with last year. Target was one of the major retailers that chartered its own ships to bypass global supply chain bottlenecks.

Cornell talked up the agility of the Target team and its supply chain network during a call with media, saying the company worked hard at "maintaining inventory flow," opting for alternative ports and taking other measures to keep the system moving.

Also:'Fighting inflation is in our DNA': Walmart says its pricing and inventory can deliver for the holidays

Walmart Inc. (WMT), which announced its third-quarter earnings on Tuesday, also highlighted its inventory position, with U.S. merchandise levels up11.5% ahead of the holidays.

Target's same-day services continued to be valuable with activity up 60%, and more than 95% of sales both online and at physical locations fulfilled by stores.

For the fourth quarter, Target expects comp sales to grow high-single digit to low-double digits compared with previous guidance for a high-single digit increase. The FactSet consensus is for 7.2% growth.

Target stock fell 4.7% on Wednesday, but has skyrocketed 43.8% for the year to date, outpacing the S&P 500 index , which is up 24.8% for the period.

-Tonya Garcia

	

(END) Dow Jones Newswires

November 17, 2021 16:10 ET (21:10 GMT)

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