DineEquity reports mixed same-store sales for 4Q, 2013

DineEquity reports mixed same-store sales for 4Q, 2013

Sales fell at Applebee’s but rose at IHOP domestic units

DineEquity Inc. recorded a nearly 4-percent decline in fourth-quarter income, largely reflecting the completion of its transition to a 99-percent franchised operation. Adjusted net income increased 20 percent to $18.6 million, or 98 cents per share, compared with $15.5 million, or 83 cents per share, a year ago, which includes $1.7 million in fees associated with the sale of units between two existing franchisees.

For fiscal 2014, the Glendale, Calif.-based company is projecting Apple

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