Applebee's owner Dine Brands wants to steal fast-food customers with its deals [CNBC]
Brinker International, Inc. (EAT)
Last brinker international, inc. earnings: 4/29 06:45 am
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Source: CNBC
The company reported first-quarter earnings that fell short of Wall Street's estimates, and both Applebee's and IHOP's same-store sales shrank more than expected. Still, Dine reiterated its full-year outlook and said sales have improved sequentially. Shares of the company were up less than 1% in afternoon trading on Wednesday. As Applebee's leans into value with a slate of promotions that includes the return of Dollaritas, Dine Brands CEO John Peyton is confident that the chain can beat out the fast-food chains vying for its customers. “The Whole Lotta Burger for $9.99 — if you can have our burger for $10, which is great quality, abundant and eat in our restaurant, in our experience, why would you eat a $10 burger out of a paper bag in your car?” he told CNBC. As consumers pull back their restaurant spending, Applebee's and IHOP are fighting against a larger group of rivals than usual for a smaller pool of customers. Peyton said full-service restaurants, fast-food chains and ev
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