Consumer Companies Down on Jobs Worries - Consumer Roundup
February 05 2016 - 4:41PM
Dow Jones News
Shares of retailers and other consumer services companies
declined amid fears that the jobs market was tightening.
The "fast casual" category of restaurants is expanding at a rate
that could lead to overcapacity, said analysts at brokerage Morgan
Stanley. "Total chain restaurant capacity growth still about 2%,
but fast casual continues to accelerate, in a possible harbinger
for future overbuilding, and potential implications for incumbents
Chipotle, Panera, and fast food overall," said the Morgan Stanley
analysts, in a note to clients. "Our annual proprietary unit count
survey suggests all may be well on the surface, but the potential
for overbuilding in fast casual is beginning to loom. Overall total
chain restaurant growth remains at about 2% in '15/'16, roughly
consistent with the prior two years...the growth of fast casual is
by far the most aggressive at more than 10% in '16, fueled by
consumer demand and investor interest in capitalizing on this new
trend."
Volkswagen postponed publication of its 2015 accounts and the
date of its annual general meeting of shareholders, citing
difficulties producing accurate valuations as it struggles to get
its arms around the emissions-cheating scandal.
-By Rob Curran, rob.curran@dowjones.com
(END) Dow Jones Newswires
February 05, 2016 16:26 ET (21:26 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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