USFD - Dine-in anxiety pushes restaurant sector lower

The restaurant sector is down sharply with chains relying on dine-in traffic leading the way. The negative vibe from investors is centered on concerns over COVID-19 flareups pushing back the return to normalcy timeline. Big Pharma CEOs have also been vocal recently about the length of time and complexity of a mass distribution of a vaccine, even if FDA approvals go well in the next few weeks. Notable decliners on the day include Ruth's Hospitality Group ([[RUTH]] -10.0%), Red Robin Gourmet Burgers ([[RRGB]] -7.2%), BJ's Restaurants ([[BJRI]] -7.5%), Bloomin' Brands ([[BLMN]] -7.1%), Denny's ([[DENN]] -7.7%), Cheesecake Factory ([[CAKE]] -7.1%), Brinker International ([[EAT]] -5.4%) and Cracker Barrel ([[CBRL]] -3.7%). Food suppliers Sysco ([[SYY]] -5.2%) and US Foods ([[USFD]] -5.0%) are also weak with investors taking some risk off the table.Papa John's International (PZZA) is one of the few restaurant stocks in positive territory, with a 0.33% gain.

For further details see:

Dine-in anxiety pushes restaurant sector lower