Garden Fresh Restaurant Corp (LTUS) Message Board

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Non-Tech : Garden Fresh Restaurant Corp (LTUS)

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To: organicgerry who wrote (46)	7/13/1998 12:43:00 AM
From: Aiiyiiyiii	Read Replies (1) of 78

I'm ascribing the anemic recent performance of the stock to nervousness about the quarter. El nino pretty much wiped out the romaine lettuce crop for much of May. Prices went from $10-12 per case to as high as $72, when it was available at all. Even though LTUS has contracts for its lettuce, its suppliers may have been unable to honor them. Wendy's temporarily stopped offering caesar salads in May, while Appleby's issued a press release declaring their intent to fight to the death for their noble patrons.. Did LTUS lose some business because it couldn't offer its usual fare? Or did they try to make up some of the shortfall by chasing the available supply, thereby increasing costs? So I'm not so sure they're going to make their quarter. Estimates are still for .31 cents, having dropped only a penny in the last 90 days. Dang. On the other hand, how severely should the stock be punished for a one-time event? Just thinking out loud. Would like to hear from anybody who ate there during May. I'm still looking for the stock to approach 30 by the end of next year. Earnings release will be about July 23 I believe.

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