December 20, 2019

On Friday, the U.S. markets set yet another new high.

The S&P 500 was up 0.5% and Toronto was up 0.4%

It appears that markets will finish 2019 at around record highs and with stellar gains in 2019.

On Friday, lululemon was up 2.75%. 

Canadian Western Bank was up 1.8%.

Toll Brothers was up 2.5%.

Constellation Software was up 3.25%.

CRH Medical was down 2.5% giving back some if its very recent gains.

Regarding Boston Pizza Royalties. They rely on the franchise operator Boston Pizza International as well as the franchisees to do things to stimulate sales. I would think that BPI should be making every effort to boost sales and avoid a cut to the royalty distribution. BPI needs to keep its franchisees happy and wants to sell more franchises. A cut to the royalty distribution would surely put a chill on the market for opening new Boston Pizza locations. Hopefully, the incentive that BPI has to spur sales will lead to them doing what it takes to boost sales. 

I know they are advertising on NHL hockey. But in general I see very few of their ads. On their “app” they have been running the same specials for months. Pasta Tuesday (from $8.99 dine-in or take away/delivery) and half price on the second pizza, take-out / delivery only. It’s disappointing not to see more action on the app to promote sales.

I was tempted to add to my BP Royalties position today. But I am biding my time. I want to hold onto some cash in case better bargains appear.



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