DineEquity shares sink on Applebee's outlook

GLENDALE Calif. DineEquity Inc. downgraded its full-year sales outlook for the Applebee’s chain after reporting a drop of 1.7 percent in systemwide same-store sales for the second quarter. The company reiterated positive sales growth expectations for sister brand IHOP, officials said Thursday.

The news of a slower-than-expected turnaround at Applebee’s sent DineEquity shares plunging as much as 30 percent to a new annual low during trading early Friday. The

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