DineEquity's 2Q profit down

Sales continue to improve at Applebee's

DineEquity Inc., the parent to the Applebee’s Neighborhood Grill & Bar and IHOP chains, reported a 60-percent drop in second-quarter profit, but said sales were continuing to improve at Applebee's.

Net income for the quarter ended June 30 totaled $7.4 million, or 42 cents per share, compared with $18.8 million, or $1.09 per share for the second quarter last year. The Glendale, Calif.-based company blamed the declines on fewer gains in 2010 with respect to debt repurchases and

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