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Denny's 3rd-Q profit soars on refranchising efforts

SPARTANBURG S.C. Denny’s Corp. said Tuesday that despite a sales slowdown at its family-dining chain, its third quarter profit more than doubled because of its successful refranchising initiative, which led to lower interest expense from debt reduction, improved restaurant margins from the sale of underperformers, and lower depreciation from asset sales.

For the quarter ended Sept. 24, Denny’s earned $10.6 million, or 11 cents per share, compared with year-ago

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