Denny’s Corp. reported its strongest same-store sales growth in seven years among its corporate restaurants during the first quarter ended March 26, saying brand revitalization efforts are resonating with guests. However, the Spartanburg, S.C.-based family-dining operator posted a nearly 10-percent decline in net income.
During the quarter, the company and franchisees remodeled 47 restaurants, including 29 locations with the new “Heritage” design. Denny’s also opened four franchised units during the quarter and closed eight restaurants, bringing its total unit count to 1,696 locations, including 161 company and 1,535 franchised restaurants.
1Q NET INCOME
Result: $6.4 million, or 7 cents per share% Decrease: 9.8% (from $7.1 million, or .07 cents per share)
1Q REVENUE
Result: $111.9 million% Decrease: 2% (from $114.5 million)
1Q SAME-STORE SALES
% Increase U.S. systemwide: 1.8%
% Increase at U.S. corporate units: 3.2%
% Increase at U.S. franchised units: 1.5%
Source: Company report
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