DineEquity: Refranchising, upgrades strategy boosted 1Q results

DineEquity: Refranchising, upgrades strategy boosted 1Q results

The company is selling 39 of its Applebee's units and will continue revamping its IHOP brand

IHOP and Applebee’s parent DineEquity Inc. on Tuesday reported a 5.5-percent increase in profit for the first quarter, saying revitalization efforts for both brands are on track, but more work needs to be done.

The company also disclosed an asset purchase agreement for the sale of 39 company-operated Applebee’s locations in Virginia to Potomac Family Dining Group LLC, as part of the chain’s ongoing refranchising effort.

The deal, which is expected to close in

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