Applebee's Parent DineEquity Stock Surges 14% After Profit Beat

Legal & General Group Plc Sells 392 Shares of DineEquity, Inc (DIN)

Legal & General Group Plc Sells 392 Shares of DineEquity, Inc (DIN)

Many chains grew too aggressively as Americans pulled back on dining spending.

More notable recent DineEquity Inc (NYSE:DIN) news were published by: Seekingalpha.com which released: "DineEquity: Avoid For Now" on August 04, 2017, also Reuters.com with their article: "BRIEF-DineEquity appoints Stephen Joyce as CEO" published on August 10, 2017, Seekingalpha.com published: "DineEquity And Its 9% Dividend" on July 21, 2017.

As for IHOP, Dine Equity announced that it would close between 20 and 25 locations, up from the 18 previously scheduled to shutter.

"We believe 2017 will be a transitional year for Applebee's and we are making the necessary investments for overall long-term brand health and expect to see improvement over the next year", Richard J. Dahl, chairman and interim chief executive officer of DineEquity, said in a news release. Officials of the parent company explained that the closures are due to the absence of traffic the restaurants used to get. He takes over on September 12. Americafirst Capital Management LLC purchased a new position in shares of DineEquity during the first quarter worth $147,000.

The earnings appeared to encourage investors as DineEquity shares rose 4% to $38.31.

These closures typically fall into one or two categories.

Instead, just give cash - that way, you won't have to worry about a store closing. The second category consists of underperforming, and perhaps, even brand-damaging restaurants with unsustainable unit economics.

Your local Applebee's may be closing soon, as the struggling casual restaurant chain tries to turn its business around.

The company is still expecting Applebee's same-restaurant sales to range from down 6% to down 8% in 2017, compared with prior guidance of down 4% to down 8%.

"IHOP remains on solid ground, despite soft sales this quarter", Dahl said. The business's revenue for the quarter was down 3.2% compared to the same quarter previous year. They had originally thought about 40-60 restaurants would close. In February, Noodles & Company announced it planned to close 55 restaurants. Changes such as installing fire grills in all 2,000-plus locations across the United States - a $40 million investment by the chain's franchisees - and redesigning locations were supposed to distinguish Applebee's from other casual dining chains.

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