Dine Brands Sales Rise as IHOP Growth Offsets Applebee's Decline

Dow Jones
Aug 05
 

Dine Brands recorded higher sales and lower profit in the second quarter, as IHOP's growth helped offset a decline at Applebee's.

The company behind Applebee's and IHOP on Wednesday posted a profit of $4.3 million, or 35 cents a share, compared with $13.8 million, or 89 cents a share, a year earlier.

Stripping out certain one-time items, adjusted per-share earnings were $1.16, below the $1.20 anticipated by analysts, according to FactSet.

Revenue rose 4% to $240.9 million. Analysts surveyed by FactSet forecast revenue of $237.3 million. Sales growth was driven by higher company-owned restaurant sales.

Domestic same-store sales fell 1.8% at Applebee's and rose 1.5% at IHOP. Analysts were projecting a 2.2% decline and 0.5% increase, respectively.

Customers are remaining focused on affordability and value, Chief Executive John Peyton said.

Dine Brands maintained its full-year guidance.

 
 

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