Walt Disney (DIS - Get Report) delivers two summer pastimes -- the blockbuster movie and theme parks. The stock hit a 52-week high of $46.10 last week and there are reasons to believe it can keep reaching for the sun.
It pulled back on the John Carter flop (which has ultimately earned over $280 million), but rallied right away on the huge success of The Avengers. Next up are movies Brave and Tim Burton's Frankenweenie.
The theme parks have delivered increased revenue with expansions under way in California, Hong Kong and a new park in Shanghai. Operating income rose 53% last quarter due to more visitors and higher spending, except in Paris. Park attendance is up 7%, while occupancy is up 2%. Not too shabby for this weak global economy.
Beer, movies, theme parks, but let's not forget cracking some crabs this summer. Ignite Restaurant Group (IRG - Get Report) is the home of Joe's Crab Shack, which tends to have seasonally strong summers. IRG is relatively new to the market having just recently gone public. The stock was priced at $14 and is currently trading at $17 and change.For 12 weeks ending in March, IRG's revenue increased 18% to $103 million and net income totaled $2.5 million, up from $1.2 million. The company owns and operates 122 Joe's and 16 Brick House Tavern + Tap restaurants. It is opening 11 new restaurants for fiscal year 2012. Sales have increased for 15 consecutive quarters and outperformed the KNAPP-TRACK report of casual dining restaurants. Comparable restaurant sales have grown by 25% over the last four years on a cumulative basis and outperformed the Knapp-track growth rate by 8%. -- Written by Debra Borchardt in New York.
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