Stephen Anderson, MKM Partners

Denny's Corporation (DENN) - Stephen Anderson at MKM Partners

Denny's: The family dining company was able to post better than expected results on cost cutting, gains from the sale of corporate restaurants and debt retirement Still, a top line catalyst is needed, said Stephen Anderson, senior analyst at MKM Partners "The company appears to be hanging its hopes on a ‘Right on the Menu' value promotion now in test markets, but we do not see this as a catalyst, and we think promotions like this one could position [Denny's] for a potential margin squeeze in future quarters," Anderson saidThe Right on the Menu offer is a value priced selection of 15 different items priced at $2, $4, $6 and $8 

Panera Bread Company, Inc. (PNRA) - Stephen Anderson at MKM Partners

Stephen Anderson, senior analyst with MKM Partners, said he was "not concerned about the shift at the top," but that he believed the buy back would have a more immediate effect on share price. "We think Panera will be able to buy back shares with ample cash left on the balance shift," he said. Changes in Panera's executive suite come as the company continues to outperform most other restaurant chains. 

Bob Evans Farms, Inc. (BOBE) - Stephen Anderson at MKM Partners

At the same time, the chain debuted a value driven menu of 30 "Real Meals" for $5.99 for the summer. Observers were optimistic that the new line of starters would contribute beneficially to Bob Evans' numbers. "We think the introduction of appetizers has the potential to add incrementally to both comps and margins," analyst Stephen Anderson at MKM Partners in Greenwich, Conn., said in a report. "Based on the strong reception to the new appetizers we saw in our recent Midwest checks, we think this potentially may be a permanent menu addition providing sustained high margins." 

Brinker International, Inc. (EAT) - Stephen Anderson at MKM Partners

Chainwide same store sales for the quarter declined 5.6%. Chili's sales dropped 5.2%, while the On the Border brand saw a 5% drop. Maggiano's Little Italy reported a 9.5% decline. Steven Anderson, an analyst at MKM Partners, said a weak sales outlook gave management the impetus to cut costs more aggressively. The news also garnered an upgrade from Wachovia analyst Jeffery Omohundro, who boosted his rating to Market Outperfrom from Market Perform. 

Bob Evans Farms, Inc. (BOBE) - Stephen Anderson at MKM Partners

The tech heavy redesign of the restaurant is a "step in the right direction," said Stephen Anderson, a restaurant industry analyst with MKM Partners in Connecticut. The move makes even more sense for the chain, he said, given that Bob Evans has said it will scale back expansion plans amid the recession and reported a loss of $51.4 million last quarter. Reinventing existing restaurants brings a higher rate of return than building new ones, Anderson said. "People are used to seeing TVs (in casual restaurants), and Wi Fi is now the price of admission for any restaurant these days to attract anyone under the age of 30," he said. "It's part of their ongoing effort to attract younger customers, with the addition of products that younger consumers like, such as the new iced coffees and BOBurrito." 

Darden Restaurants, Inc. (DRI) - Stephen Anderson at MKM Partners

It earned $2.74 a share in fiscal 2008. Although Darden saw same store sales decline in the last quarter, with a company wide slide of 3.2%, it held up better than its peers as a result of firm cost controls, MKM Partners analyst Stephen Anderson wrote Wednesday.  

Buffalo Wild Wings, Inc. (BWLD) - Stephen Anderson at MKM Partners

Buffalo Wild Wings, with 560 units in 39 states, has carved a sports-oriented niche in the bar and grill segment, offering limited and full service, takeout and bar service. The Minneapolis-based chain's secret sauce is "really super serving 18- to 34-year-old men," said analyst Stephen Anderson of MKM Partners. "They know their market, and they do a lot of advertising (to it)."