And Brinker appears well positioned to profit from some new realities in a changing society: It serves up increasingly ethnic meals in fun surroundings for a cooking-resistant public, who might be particularly drawn to casual dining in a tougher economy.
"Casual dining sales have slowed but have stayed positive," Brinker's new Chief Financial Officer, Charles Sonsteby, tells Barron's Online. "It is a stable business in...rough economic times."
For investors like Gary Craven, manager of the Evergreen Small Company Growth Fund, Brinker's 23% decline from its peak represents a good buying opportunity in a company that has beaten consensus earnings expectations for 14 straight quarters.
Brinker International, Inc., together with its subsidiaries, owns, develops, operates, and franchises casual dining restaurants in the United States and internationally. As of June 26, 2019, it owned, operated, or franchised 1,665 restaurants comprising 1,001 company-owned restaurants and 664 franchised restaurants under the Chili's Grill & Bar and Maggiano's Little Italy brand names. The company was founded in 1975 and is based in Dallas, Texas.