Stock price when the opinion was issued
Positioning appeals to a broad demographic, especially younger consumers who are more focused on quality and sustainability. Same-store sales expected to grow 6-7% this year. Brand still has pricing power. Store expansion is aggressive (300 stores this year) but disciplined. Efficiency is key to the story.
Not cheap, but justified. Track record of execution, clean balance sheet. Reports today after the bell, and she expects a beat. No dividend.
It's quality on sale, though has disappointed this year. Expects unit growth and margin to expand.