Famous Dave’s Of America – Bargain-Priced Casual Dining Shares

GuruFocus.com:

Famous Dave’s of America and its subsidiaries engage in the development, ownership, operation, and franchising of restaurants under the Famous Dave’s name.

The company operates full-service and counter-service restaurants. As of January 3, 2010, it owned 177 restaurants operated in 37 states, including 45 company-owned restaurants and 132 franchise-operated restaurants. Dave’s specializes in hickory-smoked, off the grill items such as St. Louis-style ribs, Texas beef brisket and Georgia pulled pork with all the trimmings. The company was founded in 1994 and is based in Minnetonka, Minnesota.

Restaurants have been a ‘hot’ industry group as fears of the next Great Depression have been fading and life in the USA has been getting closer to the old normal. Casual dining stocks have been excellent performers since the March 9, 2009 low point.

Here is a chart that illustrates that point clearly…

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