DineEquity posts 2Q profit despite falling sales

GLENDALE Calif. Value-oriented promotions and cost controls helped DineEquity Inc., the parent company of the IHOP and Applebee’s Neighborhood Grill & Bar chains, turn a profit in the second quarter, officials said Tuesday, but deep discounting by competitors continues to take a toll on sales.

Shares in the Glendale, Calif.-based company dropped more than 10 percent on Tuesday after officials also filed a shelf registration statement with the Securities and Exchange