OVERLAND PARK Kan. Applebee’s International Inc. reported higher-than-expected same-store sales results for December and the fourth quarter, prompting the company to say that its fourth-quarter, per-share earnings would be “at or slightly above” the high-end of its expectations, which totaled between $1.10 and $1.13.
Systemwide domestic same-store sales for the fourth quarter ended Dec. 31 decreased 1.1 percent, which reflected declines of 1 percent at domestic franchised restaurants and 1.4 percent at corporate restaurants. In December, systemwide domestic same-store sales increased 0.2 percent, which included an increase of 0.4 percent at franchised restaurants and a decrease of 0.4 percent at corporate locations, the company reported. Applebee’s said the calendar timing of both Christmas Eve and Christmas Day had a positive impact of about 1 percent on December sales.
For the full year, Applebee’s reported a systemwide same-store sales drop of 0.6 percent. Same-store sales fell 0.5 percent at franchised units and dropped 1 percent at corporate restaurants. The company, which operates or franchises 1,930 namesake casual-dining restaurants, said it would report fourth-quarter and full-year financial results on Feb. 14.
