Retailers, consumers and prices
Check Out Line: Tasty outlook from Brinker
The parent of Chili’s Grill & Bar, On the Border and Maggiano’s Little Italy restaurants raised its full-year earnings outlook while also boosting its quarterly dividend payout by 27 percent.
Brinker now expects a 2010 profit of $1.40 to $1.44 a share excluding one-time items. It had previously forecast a range of $1.15 to $1.30. Analysts were expecting $1.39, according to Thomson Reuters I/B/E/S.
The news continued a nice run for Brinker, which in January posted a better-than-expected quarterly profit. On Thursday, the company said it would sell its On the Border Mexican Grill & Cantina business to an affiliate of Golden Gate Capital for undisclosed terms.
Analysts expect sales trends to continue to improve for U.S. restaurants from last year’s dismal levels, but gains will be tough to come by as spending levels on meals away from home are expected to remain constrained.
Also in the basket:
RadioShack exploring sale and share buyback options (New York Post)
(Logo courtesy of Brinker)