Up to 160 Applebee's and IHOP restaurants may be closed [Los Angeles Times (CA)]
Dine Brands Global, Inc. (DIN)
Last dine brands global, inc. earnings: 4/29 08:00 am
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Source: Los Angeles Times
DineEquity could close up to 160 Applebee's and IHOPs, but will open dozens of new restaurants The Glendale-based parent of Applebee’s and IHOP restaurants said Thursday that as many as 160 locations could close throughout this fiscal year, though the company also plans to open dozens of new restaurants. DineEquity Inc. revised expectations for the full fiscal year during its quarterly earnings call, saying that 105 to 135 Applebee’s restaurants could close, compared to previous expectations that 40 to 60 locations could shut down. These closures will be determined based on criteria such as store profitability, operational results and “brand quality standards.” At the same time, DineEquity said it expected to open 20 to 30 new Applebee’s restaurants across the globe, most in international locations. In a best-case scenario, the net number of Applebee’s closures could be 75. On the IHOP side, DineEquity said closures could range between 20 and 25 restaurants, while the company ex
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DIN
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- 2/28/24 - Beat
DIN
Sec Filings
- 4/9/24 - Form 4
- 4/9/24 - Form 4
- 4/9/24 - Form 4
- DIN's page on the SEC website